$ABNB 2HR Chart...
FA & TA
After surging to all time highs after just 2 months from IPO, we have seen a 30%+ correction from February's Highs. Now... with vaccines and more people wanting to experience certain activities that once was restricted due to a pandemic, ABNB's road to recovery could be starting soon. With Summer approaching and leisure travel activities expecting to rebound from March 2020, this is stock worth keeping an eye on for the Long Term and with Earnings approaching it could give investors a clear direction for the company. Now for the short term, it is possible we see a technical breakout of the falling wedge to retest the overall downtrend resistance (white line). Falling Wedge Breakout target - $160-165 needs to reclaim over 157.10 first. Keep in mind overall market sentiment is choppy!
* Under 143 invalidates this idea *
FA & TA
After surging to all time highs after just 2 months from IPO, we have seen a 30%+ correction from February's Highs. Now... with vaccines and more people wanting to experience certain activities that once was restricted due to a pandemic, ABNB's road to recovery could be starting soon. With Summer approaching and leisure travel activities expecting to rebound from March 2020, this is stock worth keeping an eye on for the Long Term and with Earnings approaching it could give investors a clear direction for the company. Now for the short term, it is possible we see a technical breakout of the falling wedge to retest the overall downtrend resistance (white line). Falling Wedge Breakout target - $160-165 needs to reclaim over 157.10 first. Keep in mind overall market sentiment is choppy!
* Under 143 invalidates this idea *
