Airbnb stock has broken the rising trend up in the medium long term. This signals an even stronger growth rate. The stock has also broken an inverse head and shoulders formation.
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A decisive break of the neckline
at approximately 152 will signal a further
rise to 248 or more. There is no resistance
in the price chart and further rise is
indicated. In case of a negative reaction,
the stock has support at approximately 139
dollar. Positive volume balance indicates
that buyers are aggressive while sellers are >
passive, and strengthens the stock. RSI
above 70 shows that the stock has strong
positive momentum in the short term.
Investors have steadily paid more to buy
the stock, which indicates increasing
optimism and that the price will continue to
rise. However, particularly for big stocks,
high RSI may be a sign that the stock is
overbought and that there is a chance of a
reaction downwards. The stock is overall
assessed as technically positive for the
medium long term.
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