Watch Monday on Thursday. $MNDY – October 8, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to look at monday.com ( NASDAQ: MNDY ).
I know we have CPI coming out on Thursday, so I would definitely watch monday ( NASDAQ: MNDY ) on Thursday for a positive reaction and an opportunity for this stock to make a new all-time high if we get a positive reaction to the CPI report in stocks.
The reason I think that is because monday ( NASDAQ: MNDY ) is pretty darn close to the all-time high. We can see that Monday.com ( NASDAQ: MNDY ) is right around the orange line here, the 8-day exponential period moving average. It’s just about 3.17 percent off of the all-time high.
I would look for a break above this level here, right around 281.00, and ideally a close above 281.00 for a chance for it to challenge its all-time time high rate up here at around 286.00. So watch monday ( NASDAQ: MNDY ) on Thursday for a positive reaction and a close above that level, ideally coming on higher than average volume.
The thing I like about monday.com ( NASDAQ: MNDY ) is the fact that it is in a nice uptrend, it’s above all the major moving averages and earnings aren’t until November, so earnings aren’t at least a near-term issue.
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