Airbnb (ABNB): Time to Short!

18 de jul.I love Airbnb for vacations but this chart really isn't looking so good...

It is the only stock we are currently looking to short. Airbnb has consistently shown lower prices since its inception, despite a recent period of higher highs since hitting a low of $82. We remain confident in the continued downward trend.

The movements from point A to B and B to C align well with Fibonacci extension and retracement levels. The retracement for Wave (2) is particularly notable at the 61.8% level. We believe we are currently within Wave (3).

We want to time the short entry based on anticipated Elliott wave counts. We anticipate a further decline in the short term, followed by a potential rise in the coming weeks. We plan to place our short position during this anticipated rise in Wave 2. We will continue to monitor the price action closely and provide a detailed update with exact entry and exit points once we are ready to place the short position.

6 de ago.

Comentário

We warned you that Airbnb was not looking good, and we were right. In about two weeks, we have seen an 18% drop. Now, Airbnb should be safe for a while after tagging the support zone. With today's earnings report, we expect a rise in Airbnb; otherwise, this chart will look worse than most expect.

We might consider shorting this stock once it rises to about $150-$155. For now, we are just monitoring and waiting for our opportunity.

We will update you once we figure out an entry point.