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  • Writer's pictureT. Livingston

MongoDB (MDB) Looks Like A Potential Leader

Software database company MongoDB (MDB) currently exhibiting many traits similar to past market leaders. First, it has delivered extremely strong earnings over its' past six quarters. In addition, it has a consistent record of producing strong sales growth. What's nice to see is that MDB is also estimated to deliver monster earnings in 2024, a sign that the best may be yet to come.

MDB looks to be forming a cup and handle base on the weekly chart. In addition, the monthly chart is also shaping up quite well in a base. It looks to me like MDB has been under accumulation by many funds over the last year. Funds and institutions are attracted to stocks like MDB which produce strong earnings and the skyscrapper volume and sustained price move that began in 2022 can only be produced by buyers with enormous buying power. I will be monitoring MDB closely in the coming weeks for a potential buy.

Risk right. Sit tight.

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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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