As it appears to be, Airbnb is in a bullish structure and has been forming higher highs and higher lows. This means, we have to identify the support level and take longs from there. At the price of 163, we will be going long. From this level, we have a target of around 11% at the resistance level of 185. Market formed an engulfing candle from the support. We need another retest at the support level to hop on to the trade and then ride it till the target profit.

The descending trendline has been formed. Once market begins to move up, there is a potential for the market to break the trendlines as a breakout buy and induce further bullish momentum after the validation of price action.

The golden retracement level at the 75-78.6% is below the support level. Waiting for this level to be reached, we may miss the upside towards the profit target.

Both the EMA’s are being crossed for the bullish turn, with a bearish death cross. After the breakout buy of the EMA 50, we may see a retest of the EMA at the support level, hence forming a confluence of technical factors. Need be said, having a tight range of EMA’s and market ranging between them does not indicate a clear direction on the pair.

RSI and CCI, both are heading back to the neutralized levels after tapping the over sold region. RSI at 38 and CCI at 56. This means that the market is already priming for its mark up along with other technical factors.

Airbnb is a blue chip stock after the Covid pandemic end restored the travelling and tourism around the globe. Anticipating a rally on the stock is only realistic as well as technically viable in this point in time.

Airbnb potential fakeout

Apr 25 2022

Stop Loss -5.97%

Holding time 6d1hr

158.10

Entry price

148.66

Stop loss price