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MONDAY.COM LTDMONDAY.COM LTDMONDAY.COM LTD

MONDAY.COM LTD

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MNDY/N trade ideas

Monday.com Marches HigherMonday.com went public on June 9 and nearly tripled from its offering price by early September. Now after a pause and consolidation, it may be offering an opportunity to trend followers. The main pattern on the chart is the steady march higher along the rising 50-day simple moving average (SMA). This move also matches a trend line that started in early August. At the same time, MNDY has been unable to stay above $380. Coupled with the rising trendline, that resistance has created a bullish ascending triangle. Next, the 8-day exponential moving average (EMA) crossed above the 21-day EMA last week. MACD turned positive around the same time. That may suggest shorter-term momentum is growing more positive after the dump lower on September 28. The next event to watch is MNDY's quarterly earnings report in the premarket on November 10. The last set of numbers on August 17 beat estimates, with strong guidance. It was followed by price-target hikes by firms like Needham, Jefferies, Oppenheimer and Canaccord Genuity. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:MNDYLong
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