Software company Monday.com (MNDY) is currently pulling back nicely to its' 50-day moving average after sporting robust price action since early May. Monday was a hot IPO back in 2021 but corrected deeply in 2022. From a fundamental perspective, MNDY has delivered extremely impressive earnings and sales over its' past three quarters and is also estimated to have a huge 2024. Numbers like this is what attracts growth funds and this is evident by the strong accumulation in Monday's chart. This is quite similar to the action we've seen in Palantir recently.
I will be monitoring MNDY in the coming days for an entry point.
Risk right. Sit tight.
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