Monday.com (MNDY) made a base pattern from June to January and then started an advancing phase. Let's review the charts and indicators to see if this stock can continue to post gains.
In this daily bar chart of MNDY, below, I can see that buying interest (support) appeared in the $90-$75 area from June to January. Prices broke out to the upside in late January and started trading above the 50-day and 200-day moving average lines. The On-Balance-Volume (OBV) line moved higher into the middle of February before correcting to the downside for several weeks. Renewed strength in the OBV line can be seen in May. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of MNDY, below, I see a developing bullish picture. Prices trade above the rising 40-week moving average line. Prices have started an uptrend in recent weeks with a higher low and a higher high. The weekly OBV line made its low a year ago and its rise helps to confirm the price gains so far. The trend following MACD oscillator is bullish.
In this daily Point and Figure chart of MNDY, below, I see a potential upside price target in the $243 area.
In this weekly Point and Figure chart of MNDY, below, I see a potential upside price target in the $297 area.
Bottom line strategy: Aggressive traders could probe the long side of MNDY around $165 risking to $150 for now. My price targets are $200 and then $243.
