$ABNB TOP 20
Added 2023-05-21 17:19:50 +0000 UTCWe liked seeing $ABNB hold at the important fib levels, where we were expecting and touching into the buy zone. Their earnings highlighted a potentially difficult Q2 but hotels and airlines usually don't start making their money from the start of June, so I am not overly concerned about this warning.
Price action just finished under the 200 Day MA on Friday, so this is what we will be watching next, getting above the 200 Day MA, holding support, then moving up to test the upper limits of the bull flag and flipping this then to support. Two big tests but if they can do this, it will reinforce the bull case and more buyers could start stepping in.
I have left the Wave 2 target where it is because we can not eliminate another pull back before going higher, as it did reject at the 200 Day MA on Friday. However, once this can stay within the bull flag, I will be happy with that I see.
So What Now?
Continue with the plan here, I know a lot of people bought in the buy zone, I did as well, I will certainly add again if it manages to go back into the buy zone and I will look at adding also if it can break above and hold above the bull flag.
