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  • Writer's pictureTLivingstonBlog Rallies Off The 50-Day

Software company has sported some nice action over the last few weeks after finding support off the 50-day moving average. There are a few things I really like about this stock. First, it has delivered strong sales growth over the past year. While the earnings are not there yet, it is important to note that for recent IPOs like MNDY it often takes time for EPS growth to show up. However, strong revenue growth is often a sign of positive things to come. In addition, MNDY has become a favorite of more and more mutual funds over the last two quarters which is an excellent sign of institutional support. Most importantly, we have seen some strong action in software stocks this year, especially Asana and Cloudflare. While I unfortunately missed buy points in these stocks, their action is a clue that the industry on the whole is heating up.

From a mathematical perspective, MNDY appears to offer a justifiable risk to reward here with its' first bounce off the 50-day line. I currently own with a stop loss below this key support level.

Risk right. Sit tight.


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Full Disclosure: I currently own MNDY.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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