$ABNB TOP 20
Added 2023-05-07 13:17:41 +0000 UTCEarnings on Tuesday should decide its next direction, it is just stuck now in the bull flag and at the 50 Day MA, a lot of sideways movement over the last few months, so a positive earnings could be the catalyst this needs. A positive report and this will likely break to the upside and potentially past the previous high....a negative report and this would need to hold the fib levels as shown at $103, below this level and the impulse wave becomes a lot weaker.
Their CEO has been very active lately on social media, asking the public for feedback on ways to improve $ABNB, decipher this as you will before an earnings report, their previous report was quite impressive, although I believe they need to improve on their fees and costs to compete with hotels adapting to the ABNB model.
So What Now?
This comes down to the report now, there is a lot of room for upside here, so I am inclined to wait and see what the report produces before entering a position beforehand, if it bounces a few percent at the opening, I will be looking for a retest of the bull flag, if this can hold, it is a good place to start a position.
