MongoDB (MDB) lifted its full-year outlook and boosted its 澳洲幸运5官方开奖结果体彩网: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 澳洲幸运5官方开奖结果体彩网:net sales, recorded revenue growth of 26% in its latest quarter, adding that the firm also registered the highest total net customer additions in six years as enterprises and startups seek 🐻to modernize existing software and build new AI applicatio𒅌ns.

Heading into MongoDB’s earnings, the stock was 14% lower over the past 12 months but had recovered 42% from their early April low amid a strong rebound in AI software stocks driven by 澳洲幸运5官方开奖结果体彩网:trade deal optimism.

Below, we break down the 澳洲幸运5官方开奖结果体彩网:technicals on MongoDB’s chart and identify pos﷽t-earnings price levels worth watching out for.🌃

Inverse Head and Shoulders Bottom

MongoDB shares have carved out an 澳洲幸运5官方开奖结果体彩网:inverse head and shoulders-like pattern between March and June, paving the way for a bullish upside reversal.

More recently, the pattern’s right shoulder found support just above the 澳洲幸运5官方开奖结果体彩网:50-day moving average (MA), with the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) confirming strengthening price momentum. That momentum could accelerate in Thursday's trading sess🌞ion following the company’s better-than-expected quarterlyඣ results.

Let’s identify three crucial overhead areas on MongoDB’s chart that could come into focus amid an earnings-driven rally and also point out a vital 澳洲幸运5官方开奖结果体彩网:support level worth monitoring during future 澳洲幸运5官方开奖结果体彩网:retracements.

Crucial Overhead Areas to Watch

Investors should initially watch the $253 area. The shares may encounter overhead 澳洲幸运5官方开奖结果体彩网:resistance in this location near a trendline connecting a range of corresponding trading activity on the chart that preceded the notable early March 澳洲幸运5官方开奖结果体彩网:stock gap. This area also closely aligns with the 50%澳洲幸运5官方开奖结果体彩网: Fibonacci retracement level when applying aꦇ grid from the stock's December high to April low.

A close above this crucial area could see the shares climb toward $298. This location on the chart may provide selling pressure near several peaks that developed on the chart between Sepꦺtember and February.

Buying above this area could propel a move to around $355. Investors who have 澳洲幸运5官方开奖结果体彩网:accumulated shares at lower price may seek 澳洲幸运5官方开奖结果体彩网:exit points in this region near twin peaks that formed just above the 澳洲幸运5官方开奖结果体彩网:200-day MA in November and December last year.

Vital Support Level Worth Monitoring

Future retracements in MongoDB shares could see the price revisit lower support at the $212 level. This area would likely attract buying interest near a 澳洲幸运5官方开奖结果体彩网:horizontal line linking the daily high of the March 6 gap with♍ prominent troughs 🔴that emerged on the chart in June and August last year.

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