Chart of the Day: Monday.com - Open Source Software for Flexibility

The Chart of the Day belongs to the open source software company Monday.com (MNDY)    .  I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 5/15 the stock gained 18.15%.

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools. The company also offers product solutions for work management, sales CRM, and software development verticals; and business development, presale, and customer success services. It serves organizations, educational or government institution, and distinct business unit of an organization. The company was formerly known as DaPulse Labs Ltd. and changed its name to monday.com Ltd. in December 2017. monday.com Ltd. was incorporated in 2012 and is headquartered in Tel Aviv, Israel.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 79.00+Weighted Alpha
• 56.56% gain in the last year
• Trend Seeker buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 47.69% in the last month
• Relative Strength Index 81.61%
• Technical support level at $164.60
• Recently traded at $180.05 with 50 day moving average of $136.69

Fundamental Factors:

• Market Cap $7.38 billion
• Revenue projected to grow 35.80% this year and another 27.80% next year
• Earnings estimated to increase 47.40% next year

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analysts gave 9 strong buy, 6 buy and 2 hold opinion on the stock
• Analysts price targets are between $150 and $240
• The individual investors following the stock on Motley Fool voted 171 to 4 for the stock to beat the market with the more experienced investors voting 30 to 3 for the same result
• MarketBeat comments: The weekly stochastic downward oscillation attempts to cross back up near the 35-band. MNDY would need to break through the lip line at $172.46 to trigger the cup and handle the breakout. Pullback support levels are $135.16 weekly MSL trigger, $121.96, $108.35 handle low and $94.76.
• CFRAs MarketScope gives it a buy rating 
• 8,360 investors monitor the stock on Seeking Alpha

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in  the next 72 hours.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.