MDB MongoDB Options Ahead of EarningsIf you haven`t bought the dip on MDB here:
or sold before the previous earnings release:
Then analyzing the options chain and the chart patterns of MDB MongoDB prior to the earnings report this week,
I would consider purchasing the 435usd strike price Puts with
an expiration date of 2023-12-15,
for a premium of approximately $23.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
MDB trade ideas
MongoBD Bullish trendEntry Point:
A prudent entry strategy for MongoDB (MDB) involves waiting for the price to test the established trend line. By doing so, you aim to confirm the resilience of the bullish trend and enhance the likelihood of a profitable trade.
Stop Loss (SL):
To manage risk effectively, consider setting your Stop Loss order at the level of the last bearish candle. This approach safeguards your investment by limiting potential losses in case the market takes an unexpected downturn.
Take Profit Targets:
TP1 (Take Profit 1): 359
TP1 represents the first potential profit-taking level. When the price reaches this point, it might be a wise decision to secure some profits. This level aligns with a modest gain and helps lock in gains early, reducing exposure to market fluctuations.
TP2 (Take Profit 2): 380
TP2 signifies a more ambitious target for potential gains. If the price continues to rise after TP1 is reached, consider taking further profits or closely monitoring the situation to make informed decisions on whether to extend your position or secure additional gains.
MDB MongoDB Options Ahead of EarningsIf you haven`t bought MDB here:
Then analyzing the options chain and the chart patterns of MDB MongoDB prior to the earnings report this week,
I would consider purchasing the 400usd strike price in the money Puts with
an expiration date of 2023-9-1,
for a premium of approximately $35.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
MDB MONGODB INCAfter the report, there was a significant upward gap followed by a period of consolidation known as a classic sideways movement or a range-bound market. Typically, when a breakout occurs from such a consolidation phase, it often indicates the formation of a sustained trend in the direction of the breakout.
TP1 430 TP2 457
SL 363
MDB MongoDB Options Ahead of EarningsLooking at the MDB MongoDB options chain ahead of earnings , I would buy the $250 strike price Calls with
2023-6-16 expiration date for about
$23.60 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
Breakdown from Expanding TriangleFor MDB the structure is called an expanding triangle, its bearish with huge volatile swings. There is enough evidence to assume a break below 224.75 (blue box) will initiate a selloff to at least the yellow box (189-203 range) by next Friday 4/28.
From that momentum it could complete downside target (red box) to as low as 175 before bouncing in early May. However, my point target is 189 - if it holds there, probably a good place to take profits because it will need to test low 200s for rejection before continuing down to 170s.
There has been distribution since Feb. going into the expanding triangle - very volatile here but very tradable.
$MDB - bull and bear thesisNASDAQ:MDB
Weekly timeframe
* Using the disjoint channel tool, price has closed above the channel for 2 weeks in a row with big wicks, to me it's obvious it's going to $278.67 before anything, if anything
Bull: A continuous close above $232, $278.67 is next
Bear: A continuous close below $232, $190 is next