$ABNB TOP 20
Added 2023-08-26 19:33:29 +0000 UTCWe have been following this during the week and have been impressed with how it has been holding above the trend line and on the 0.618 Fib, it has also come back for a retest on Friday too and has continued to hold up very well.
It has been difficult for any stock to bounce at the moment and there is a number of setups like this, that are holding crucial support levels and need the conditions in the market to be positive it order to be triggered to the upside.
$ABNB is one of those stocks.
On the daily chart, the price is right in the middle of the 50 and 200 Day MA, so it is still in an uptrend and the 200 Day MA is at $116, so depending how the market goes next week, we could see a number of large caps testing their 200 Day MA, including the $SPY soon.
So if the 0.618 Fib and the yellow trend line is not held, then this is where I will be watching next for support.
I will be lookin at entering $ABNB again if this can happen.
