$ABNB- Time to Sell or Time to Buy More?
Option 1 (Orange):
ABNB is forming a wedge formation and is likely to breakout soon, possibly past that $216 resistance level.
Option 2 (Red):
ABNB has formed the bearish triple top pattern and is likely to fall further, possibly to that $140 zone, before turning to the upside.
Option 3 (Blue):
ABNB is forming a new uptrend after seeing growth too steep to hold in the weeks following the IPO.
My Outlook:
I think that Airbnb has enormous potential as a company, especially as we climb back from this pandemic. The vaccines are out, and a huge number of Airbnbs and Vrbos have been booked for this summer. Personally, I would say option one is the most likely outcome, but I am also wary of that triple top formation. If it breaks that bottom support trendline this could potentially fall all the way to $140.
ABNB is forming a wedge formation and is likely to breakout soon, possibly past that $216 resistance level.Option 2 (Red):
ABNB has formed the bearish triple top pattern and is likely to fall further, possibly to that $140 zone, before turning to the upside.Option 3 (Blue):
ABNB is forming a new uptrend after seeing growth too steep to hold in the weeks following the IPO.My Outlook:
I think that Airbnb has enormous potential as a company, especially as we climb back from this pandemic. The vaccines are out, and a huge number of Airbnbs and Vrbos have been booked for this summer. Personally, I would say option one is the most likely outcome, but I am also wary of that triple top formation. If it breaks that bottom support trendline this could potentially fall all the way to $140.
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