$ABNB TOP 20
Added 2023-06-18 20:23:13 +0000 UTCThe model student has performed flawlessly since $104 at the 0.65 Fib and in the buy zone. Big test next as it approaches the yellow trend line that has been a resistance line since the start of 2002, we want to see a break out above this line and a retest from a above, flipping this resistance line to support.
This would be further confirmation of Wave 3 and would signal a good position to add at the support line, I believe we are still in Subwave 1 of Wave 3, so a break out and pull back to this trend line could signal the end of Subwave 2, which is the ideal position to add in Wave 3.
RSI is just at the 70 level now, which may indicate that this might pull back before breaking through the trend line but it is not extended yet, so we will see how the next few sessions develop.
I won't be doing anything with my position, I am happy to let this run its course.
