AIRBNB (ABNB) Trade UpdatesUpdate on AIRBNB investment made in August.
After my entry (at 144,71 see the previous post), a rather solid uptrend started.
We are now on a very important volumetric level; a small double bottom has also been created, so a slight pull-back in the short term could be physiological. It is important to see if the 200 moving average will hold, given that the company's listing is a recent thing, the second support to keep in mind is the trendline I have drawn.
The most important thing to point out is the relative strength of the company; in a difficult period for the general markets, ABNB only rose in the months of September and October. This is an important signal of strength, as is the awareness that the world is slowly starting up again and so is Airbnb, closely linked to tourism.
Let's remember that from March 2021 to May 2021 the stock had lost 40%! An enormity, clearly due to external events (COVID and tourism paralysis) rather than to company problems, which, on the contrary, has solid foundations.
I remind you that mine is a long-term investment perspective with gradual accumulation with each pullback, for those interested in pure trading, the targets for a take profit in my opinion are:
- $ 180
- $ 190 important volumetric level where the institutions have started to push the price down
- $ 215 very close to an all-time high, an area where I will take home part of the profits.
Pay attention to the earnings at the beginning of December.
Happy trading
Lazy Bull
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
