Key Takeaways
- MongoDB lifted its full-year outlook and boosted its stock buyback program, sending shares higher in premarket trading Thursday.
- The stock has carved out an inverse head and shoulders-like pattern between March and June, paving the way for a bullish upside reversal.
- Investors should watch crucial overhead areas on MongoDB’s chart around $253, $298, and $355, while also monitoring a vital support level near $212.
MongoDB (MDB) lifted its full-year outlook and boosted its stock buyback program, sending shares of the AI-powered software provider up over 16% in premarket trading on Thursday.
The company said its flagship Atlas multi-cloud database subscription offering, which accounts for the lion’s share of net sales,…
