MDB short-term news negativity expected to fade; price anticipated to reclaim upward trend line soon.

Next up, guys, is MongoDB. We have seen a significant drop here in MongoDB today of 18.46%. They made a change in leadership just before Investors Day. Investors were not so confident, as the entire stock fell below $300 today.

Actually, at exactly $300 . MongoDB stock experienced a direct drop of $100 due to a change in their leadership.

Now, guys , look at this thing that I find very interesting. We have an upward trend line here from April of this year connected to this axis from July of this year. The price didn't close above it, but in the near term this is what the bulls at MongoDB want to see as soon as possible.

Get a close above 339.57 tomorrow and then we can come back and attack this lower pivot at 355. Otherwise, we may be in a breakdown scenario, breaking this upward trend line.

However, regarding this short-term news, I expect some of this negativity to fade away, and I expect the price to return above this upward trend line sooner rather than later .