MDB Long Idea, to be or not to be..

1 окт.

This technical setup revolves around a post-earnings gap fill, with the price testing and holding just under the monthly fair value gap. Monday's daily close shows a small bullish candle with a tight spread, suggesting potential strength. The broader XLK tech ETF remains solid, having endured a 2-day sell-off but is now looking to break above the $229 level this week. Apple (AAPL), a leader in the tech sector, showed strength on Monday, and this could mark the start of the next upward leg, especially considering that XLK broke the prior daily pivot at $226.96 last week.

Adding more conviction to a long-biased trade, the IGV (iShares Expanded Tech-Software Sector ETF) is also performing well, hovering just a few points below a new all-time high and consolidating within a tight range. This flat-top pattern signals a healthy correction and potential for further upside.

The trade setup involves entering on a break of the high of the day at $270.86, with a stop loss placed at the pivot low of $265.90. Targets include $275.21 (a weekly FVG level), $284.96 (a weekly pivot level), and $300 (the current 52-week high resistance/pivot).