One thing we’ve talked about is the potential power of IPOs.
Initial Public Offerings can sometimes lead to massive wins.
Why?
Young, exciting companies tend to have huge growth rates and traders love to get behind the Next Big Thing.
So if we see a breakout on a newer company, we need to pay attention.
And MNDY is one to look at.
Here’s the chart:
MNDY has only been around a couple of years but it’s right near a breakout level.
A move above $239.22 could lead to a big explosion.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
