A technical analysis of AIRBNB INC-CLASS A.

Our stock screener has identified AIRBNB INC-CLASS A (NASDAQ:ABNB) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:ABNB.

Analyzing the Technical Aspects

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, ABNB scores 7 out of 10 in our technical rating. ABNB has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month ABNB has a been trading in the 129.87 - 141.75 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, ABNB outperforms 52% of them, which is more or less in line with the market.
• ABNB is an average performer in the Hotels, Restaurants & Leisure industry, it outperforms 48% of 135 stocks in the same industry.
• ABNB is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ABNB is lagging the market.

Our latest full technical report of ABNB contains the most current technical analsysis.

How does the Setup look for NASDAQ:ABNB

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:ABNB is 8:

ABNB has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 137.69, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ABNB in the last couple of days, which is a good sign.

How to trade NASDAQ:ABNB?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.