MongoDB Under Bearish Pressure Ahead Of Q2 — Will Analyst Optimism Spark A Rebound?
Portfolio Pulse from Surbhi Jain
MongoDB Inc (NASDAQ:MDB) is under bearish pressure ahead of its Q2 earnings report, with its stock down 34% over the past year. Despite analyst optimism with a 38% upside potential, technical indicators suggest a continued downtrend.
August 28, 2024 | 5:58 pm
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MongoDB is experiencing a bearish trend ahead of its Q2 earnings, with its stock price below key moving averages. Despite a consensus 'Buy' rating and a 38% upside potential, technical indicators suggest continued selling pressure.
The stock is trading below its 5, 20, and 50-day EMAs, indicating sustained selling pressure. The MACD is negative, and the RSI is neutral, suggesting no immediate reversal. Analysts have a 'Buy' rating with a 38% upside, but technicals point to a bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100