Monday.com has been on my watchlist for quite some time now. It's hard to ignore a stock like MNDY given it's amazing fundamentals. First, it has delivered five consecutive quarters of triple-digit earnings. Not only that, the last three-quarters have actually been accelerating. Sales growth has also been growing consistently over the past two years. In addition, insiders currently own over 20% of the shares, indicating they too are bullish on Monday's prospects.
Monday's chart is equally impressive. After topping in late 2021, MNDY was decimated during the 2022 bear market. This makes sense since growth-oriented companies like Monday are often affected the most during times when rates are rising. However, MNDY has been one of the markets' strongest participants since last November. I particularly like the heavy volume buying which has been coming in- a sign that institutions are currently accumulating Monday. MNDY is forming a beautiful base right around the $200 level. I will be monitoring it for a buy in the coming weeks.
Risk right. Sit tight.
To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
Comments