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TomDaSpankEngine
Mar 10, 2022 7:21 PM

MDB: You're better off investing in Mangos...  Short

MongoDB, Inc.NASDAQ

Description

MDB looks terrible longterm. Traders may be able to earn a nice return trading the B-Wave bounce, but longterm buy and holders should stay FAR away.

Comment

Starting to look toppy again
Comments
Sidpadiripaty
Hey, your charts been so helpful, thank you
Can you look into mdb and give your new insights
6c70584cf2f54cc58852e8c2348ca6
How are you feeling about this assessment today? Not trying to put a stick in your eye, but MDB is up 50% since this snapshot from 3/10. Still expecting a turn to the downside?
TomDaSpankEngine
@6c70584cf2f54cc58852e8c2348ca6, I expected the A-Wave retrace to go a little deeper to $250 as you can see on my chart, but it bottomed at $270. You can also see on my chart that I expected a 60-70% bounce to about 400 for the B-Wave. With that being said, this count is still very much alive. So far we only have 3 waves up off the lows for MDB. If it pulls back slightly, then makes a new high to complete 5-waves off the low. Then it will be reasonable to assume that a bottom is in place.
TomDaSpankEngine
@6c70584cf2f54cc58852e8c2348ca6, careful,still more downside
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