• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

MongoDB Is Poised for a Rally

Here's our initial upside price target for MDB which provides a general purpose database platform.
By BRUCE KAMICH
Jun 24, 2022 | 02:15 PM EDT
Stocks quotes in this article: MDB

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. 

 
In this weekly Japanese candlestick chart of MDB, below, we can see a number of lower shadows in recent weeks telling us that traders are rejecting the lows. The slope of the 40-week moving average line is bearish.
 
The weekly OBV line shows a low in May and an equal low in June to suggest a trend reversal may be at hand. The MACD oscillator is below the zero line but narrowing towards a potential cover shorts buy signal.
 
 
In this daily Point and Figure chart of MDB, below, we can see a potential upside price target in the $367 area.
 
In this weekly Point and Figure chart of MDB, below, we can see a price objective in the $475 area.
 
Bottom line strategy: Aggressive traders could go long MDB at current levels and on available weakness. Risk below $260. The $367 area is our initial upside price target.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Trading | Software & Services

More from Investing

You Don't Have to Trade All at Once

James "Rev Shark" DePorre
Sep 23, 2023 10:00 AM EDT

Trading in multiple time frames not only reduces risks, but also provides strategic flexibility. Let me show you what I mean and how to do it.

This Dividend Aristocrat Has All the Raw Materials to Make It a Top Pick

Bob Ciura
Sep 23, 2023 7:30 AM EDT

This name has been down, but now I think it's charged up to cruise into the year's end.

The Bears Just Moved Into Wall Street

James "Rev Shark" DePorre
Sep 22, 2023 4:26 PM EDT

Technically, the bears are in control of this market now.

3 Overlooked Mid-Cap Stocks With High Dividend Yields

Bob Ciura
Sep 22, 2023 3:00 PM EDT

There are strong dividend stocks in this 'middle' category worthy of consideration for income investors.

Don't Be a Sap and Step Into a Value Trap

Bret Jensen
Sep 22, 2023 12:30 PM EDT

There are plenty of stocks that look like value plays but aren't as the market continues to drag more share prices down.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:20 PM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Trading in Multiple Time Frames
  • 10:24 AM EDT BRUCE KAMICH

    This Could Get Messy

    A number of key stocks are getting close to import...
  • 01:41 PM EDT CHRIS VERSACE

    Latest AAP Podcast With Helene Meisler!

    Listen in as the Action Alerts PLUS podcast talks ...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login