Risk/Reward 6:1 Minimum in MDB Right Now
MDB In my previous post (linked) I looked at the way MongoDB previously had reacted to tests of its 125 moving average over its short but super strong lifespan. This is a true growth stock, and is currently in a position to offer a minimum of 6:1 ratio on risk/reward from Friday's close. This is dependent on setting a stop loss below the current uptrend line and channel this stock has ridden on its rise, so around 134.50 should do. On breakout from the current inner resistance, MDB should have very little trouble running to at least its previous ATH 185ish, but just as easily may head all the way back up to the top of its channel near 250ish. RSI is on watch for breaking out of resistance line, and Klinger Oscillator is quickly heading towards bullish entry point when crossing zero line while crossed over bullish. I entered last week at 139.50 as a hold, with stop loss set for now. If it breaks out as I suspect it will, I will use a trail stop instead. If looking for short term gains, I suggest options after the breakout, either up or down. Happy hunting, and GLTA!!
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