Aug. 4 at 6:15 PM
A new swing trade setup is developing on
$MNDY.
The stock is trading just below a key resistance area and is worth watching closely.
After building a base for nearly six months, price is now consolidating tightly beneath the upper end of that range. A confirmed breakout has not happened yet, so I'm waiting for a clean move above resistance followed by a successful retest before considering an entry.
The setup also aligns with two of the market's strongest themes: AI software and cloud software.
Trade plan:
Entry:
$93–95
Stop:
$91
First target:
$109
Initial risk/reward: approximately 5:1
Patience is key here. I want confirmation that the breakout holds before taking a position.
Is
$MNDY on your watchlist?
