MongoDB, Inc.Long
MDB: Daily Base Breakout with Clear Risk/Reward Setup
ANALYSIS:
MDB has formed a potential base after the December earnings gap down. Key technical factors align for a swing trade opportunity:
SETUP:
Base formation between 236-246 with increased volume
Clear breakout level with volume confirmation
Well-defined risk parameters with support at 238
ENTRY: 246
STOP: 238 (8 points risk)
TARGETS:
1️⃣ 254 (1R - Initial scale)
2️⃣ 265-267 (Primary target - major resistance zone)
3️⃣ 298+ (Extended target - aggressive)
TRADE MANAGEMENT:
Scale 1/3 at 1R (+8), move stop to entry
Scale 1/3 at primary target
Trail remaining position using 4H uptrend line
RISKS:
Weekly downtrend still intact
Unfilled earnings gap above
Resistance at December consolidation zone (270-280)
Always use proper position sizing and adapt the plan to your own risk management rules.
MDB has formed a potential base after the December earnings gap down. Key technical factors align for a swing trade opportunity:
SETUP:
Base formation between 236-246 with increased volume
Clear breakout level with volume confirmation
Well-defined risk parameters with support at 238
ENTRY: 246
STOP: 238 (8 points risk)
TARGETS:
1️⃣ 254 (1R - Initial scale)
2️⃣ 265-267 (Primary target - major resistance zone)
3️⃣ 298+ (Extended target - aggressive)
TRADE MANAGEMENT:
Scale 1/3 at 1R (+8), move stop to entry
Scale 1/3 at primary target
Trail remaining position using 4H uptrend line
RISKS:
Weekly downtrend still intact
Unfilled earnings gap above
Resistance at December consolidation zone (270-280)
Always use proper position sizing and adapt the plan to your own risk management rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.