Breakdown from Expanding Triangle

JerryManders Updated   
NASDAQ:MDB   MongoDB, Inc.
For MDB the structure is called an expanding triangle, its bearish with huge volatile swings. There is enough evidence to assume a break below 224.75 (blue box) will initiate a selloff to at least the yellow box (189-203 range) by next Friday 4/28.

From that momentum it could complete downside target (red box) to as low as 175 before bouncing in early May. However, my point target is 189 - if it holds there, probably a good place to take profits because it will need to test low 200s for rejection before continuing down to 170s.

There has been distribution since Feb. going into the expanding triangle - very volatile here but very tradable.
Adjusted target is 175 by end of June. Levels it needs to break down: 238, 233, 219, 209. Add to short here, 6/23 220 puts and 5/26 240 puts to play the near term initial drop.

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