Momentum

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Monday.com stock price closed at $152.49 with a loss of -1.29% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>MNDY stock price has plunged below 20, 50, and 100-day exponential moving averages (EMAs).</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Monday.com is 23.27% while one weekly return is -13.47%.&nbsp;</a> </li> 
</ul> 
<p>MNDY stock price was in a strong bullish trend during the beginning of May 2023, rising from the low of $110 and forming a yearly high at $189.15. Monday.com stock price surged roughly 71% from being low. The stock price after the surge entered into a consolidation zone ranging between $161 and $189.&nbsp;</p> 
<p>The cloud-based platform stock price consolidated for more than two months. It faced strong rejection above $189 which induced bearish momentum in the price and led to the break of the $161 support level.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/SI5h5V_R6Rt9Y4XGZZ17GO2g20-8K7jnczGw8RWbgPdpok5Ze-5WmkFRXmmIxva7-0DqcnNu8pXFKWQRGarcpx9kfmX591F-OSQ7PhYZpKl7vAJUR_-QbQt9RLQqzslUYLWIgDIr9ALzJb91VgM5C8U" alt="Monday.com Ltd (MNDY) Stock: Will Q2 Result Halt Bearish Rally?"> 
  <figcaption class="wp-element-caption">
    Source: MNDY Stock Price By <a href="https://www.tradingview.com/x/dxeB0T9N/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>Currently, the MNDY stock price is headed toward the next support level of $149.50. If bears can push the price below 49.50, it might melt down to the $130 support level. On the other hand, if the price forms a support near $49.50, it might retest the support turned resistance of $161.</p> 
<h2 class="wp-block-heading" id="strong-monday-com-to-announce-quarterly-results-strong"><strong>Monday.com to Announce Quarterly Results</strong></h2> 
<p>Monday.com will announce its second-quarter results on 14th August 2023. The company’s financials have been performing very well. The project management software developer is expected to report earnings per share of $0.14, an increase of 142.42% from the earlier year quarter.&nbsp;</p> 
<p>Meanwhile, the consensus has estimated the revenue to be $169.2 Million, a rise of 36.76% from the previous year’s quarter. Looking into the valuation, Monday.com has a forward P/E ratio of 264.84 as of today, August 10th, 2023. The industry has an average forward P/E ratio of 38.97, which indicates that the company is trading at a premium to the group.</p> 
<p>Monday.com also announced the launch of <a href="https://www.thecoinrepublic.com/2023/08/03/amazon-stock-price-prediction-can-amzn-stock-fall-below-120/" rel="noopener noreferrer nofollow">Amazon</a> web services in the Sydney region which will enable regional clients to safely store their data in Australia while reducing latency. It is also the first data center in the Asia Pacific.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-mndy-stock-price-regain-momentum-after-the-release-of-earning-results-strong"><strong>Will MNDY Stock Price Regain Momentum After the Release of Earning Results?</strong>&nbsp;&nbsp;&nbsp;&nbsp;</h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/NOKmXAkEe_wgXoVrnTBJRmnnCOIIlgL8LpTBkjgeeHcQwePhbN4HQCmd8qUEB6oyercEO3xrVDPTcOOJuQZ3I2zozukkqm15Fvl_rRM8bhajTpwfXi_erOYdcBBK4qj9BVScTJNNIfFUuLn5tTpUeuY" alt="Monday.com Ltd (MNDY) Stock: Will Q2 Result Halt Bearish Rally?"> 
  <figcaption class="wp-element-caption">
    Source: MNDY Stock Price By <a href="https://www.tradingview.com/x/AP0zx4oj/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The stock price has dropped below the 20, 50, and 100-day exponential moving averages, indicating an increase in bearish pressure. Chaikin money flow (CMF) score has also plunged below the 0 mark and is trading at -0.16 suggesting weakness in the market.&nbsp;</p> 
<p>The relative strength index stands at 34.12, nearing the oversold zone, indicating a bearish confluence over the price. The bands of Bollinger have also expanded implying a rise in volatility. MNDY stock price has crossed below the lower band which suggests the possibility of a pullback.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The earnings and revenue report will set the direction for MNDY stock price. The stock price has dropped significantly after the formation of an annual high. Previously, Monday.com crushed estimates by a notable gap and is likely to perform the same in Q2 results.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Major support: $110 and $130&nbsp;</li> 
 <li>Major resistance: $189 and $200</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Monday.com Ltd (MNDY) Stock: Will Q2 Result Halt Bearish Rally?

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Thecoinrepublic.com

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