monday.com Ltd. Stock Forecast
Green day on Tuesday for monday.com Ltd.
(Updated on Apr 23, 2024)
The monday.com Ltd. stock price gained 1.59% on the last trading day (Tuesday, 23rd Apr 2024), rising from $181.89 to $184.79. During the last trading day the stock fluctuated 3.76% from a day low at $181.68 to a day high of $188.52. The price has been going up and down for this period, and there has been a -14.35% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 70 thousand more shares were traded than the day before. In total, 787 thousand shares were bought and sold for approximately $145.35 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $177.46 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.79% during the next 3 months and, with a 90% probability hold a price between $163.63 and $207.76 at the end of this 3-month period.
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MNDY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The monday.com Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $212.06. On a fall, the stock will find some support from the short-term average at $183.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for monday.com Ltd. stock
monday.com Ltd. finds support from accumulated volume at $184.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $6.84 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 4.16%.
monday.com Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MNDY) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect monday.com Ltd. to open at $185.00, and during the day (based on 14 day Average True Range), to move between $176.49 and $193.09, which gives a possible trading interval of +/-$8.30 (+/-4.49%) up or down from last closing price. If monday.com Ltd. takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $184.25 (0.29%) than the resistance at $199.91 (8.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is monday.com Ltd. stock A Buy?
monday.com Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.384 Sell Candidate Unchanged
Predicted Opening Price for monday.com Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $185.00 ( 0.112%) | $184.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 191.84 | 3.81 % | |
| R2 | 189.22 | 2.40 % | ||
| R1 | 187.61 | 1.53 % | ||
| Current price: | 184.79 | |||
| Support | S1 | 182.38 | -1.30 % | |
| S2 | 180.77 | -2.18 % | ||
| S3 | 178.16 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 215.11 | 16.41 % | |
| R2 | 212.01 | 14.73 % | ||
| R1 | 199.91 | 8.18 % | ||
| Current price | 184.79 | |||
| Support | S1 | 184.25 | -0.292% | |
| S2 | 181.89 | -1.57% | ||
| S3 | 178.07 | -3.64% |
FAQ
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