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US Technical Analysis Report

One NASDAQ– Listed Technology Stock Poised for Upside as Russell 3000 Inched Higher– MDB

Apr 26, 2024

Company Overview: MongoDB, Inc. (NASDAQ: MDB) engages in the development and provision of a general-purpose database platform. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a positive note and continued the momentum. The index made high of 2912.23 during the week and settled at 2888.015 with a week-to-date (WTD) gain of ~1.672 percent on April 25, 2024Other major indices, such as S&P 500 and NASDAQ Composite displayed upside move for the week. On April 18, 2024, the S&P 500 index settled at ~ 5048.41 with a WTD gain of ~1.63 percent, while the NASDAQ Composite Index settled at 15611.76 with a WTD gain of ~2.15 percent. 

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NASDAQ-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for MongoDB, Inc. (NASDAQ: MDB) for the next 2-4 weeks duration: 

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