Shares of MongoDB (MDB) have made a bottom formation on the charts and we could see a price rise over the next six weeks or so. MongoDB is an open source NoSQL database management program. NoSQL is used as an alternative to traditional relational databases.
Let's examine the charts and indicators as this technology is above my pay grade.
In this daily bar chart of MDB, below, we can see that prices made a low in May and a higher low in June. Prices are now testing the early June highs to start the simple definition of an uptrend - a series of higher lows and higher highs. MDB is ready to close above the 50-day moving average line.
The daily On-Balance-Volume (OBV) line is leading the way higher with its own new high and telling us that buyers of MDB are being more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is rising and getting closer to a bullish cross above the zero line.



