MongoDB shares ( NASDAQ:MDB ) fell more than 20% in premarket trading on Friday due to weak guidance from the company. The document-oriented database provider, which makes money by selling add-on features and support for its open-source document-oriented database, guided fiscal second-quarter adjusted earnings of between 46 cents and 49 cents per share, well below...
MDB looks terrible longterm. Traders may be able to earn a nice return trading the B-Wave bounce, but longterm buy and holders should stay FAR away.
MDB got rejected at 324 multiple times. this will be a big break. Can get to 340 if we breakout on volume. Options chain is pretty illiquid on this. So i am going with shares.
MDB is Parabolic, this is the weekly chart A recovery from its current price point will likely take place as it did in the red rectangle before it Leading to continuation of the parabola Very bullish
$MDB broken out of a double bottom chart pattern from $325, general trend resumption price action behavior, rallying +17.36% within a week. $MDB is currently close at $380, its 3 months high. With $MDB current implied volatility remaining 40% away from its peak of $26/day that was set in March 2021, $MDB remains in traction to recapture its all time high of $428...