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- 1 Airbnb stock price is rising inside an interesting channel to reach the $150 mark.
- 2 Airbnb stock price is rising inside an interesting channel to reach the $150 mark.
- 3 Airbnb, Inc. (NASDAQ: ABNB) is a San Francisco-based company operating an online marketplace for short- and long-term homestays and experiences.
Airbnb stock price is trying to maintain the recovery momentum to reach the $150 level through the rising parallel channel. ABNB stock price surged and reached the upper trendline of an ascending parallel channel and ABNB shares may register their breakout to reach $150 level. However, sellers may approach shortly and initiate the selloffs. ABNB stock price has been rising through an ascending parallel channel since May 2023 after getting support from the $103.75 level.
Airbnb stock price was at $146.53 and has gained 0.80% of its market capitalization during Tuesday’s trading session. Trading volume is below average and needs to grow during Wednesday’s trading session. Buyers need to accumulate to maintain the ABNB shares at the current level.
Will Airbnb Stock Price Reach $180 Mark and Sustain?
Airbnb stock price can be seen increasing inside an ascending parallel channel and is currently at the upper trendline of the channel. Now, analysts believe that ABNB share price may start slipping or gaining towards the recovery level of $180. Investors need to be careful, according to analysts.
If ABNB stock price continues the surge through the rising parallel channel and register its breakout from $160 resistance level after sustaining above the primary resistance level of $150 then Airbnb share price may recover till the $180 recovery level after sustaining above the $163 resistance level.
Meanwhile, ABNB shares are trading above 20, 50, 100 and 200-days daily moving averages. Airbnb stock price has gained 13.19% in a week and 13.87% in a month. Moreover, ABNB shares got up 24.03% in the last three months and 46.76% in the last six months.
In addition, ABNB share price has been performing excellently with the 67.68% gains year to date. This confirms the facts regarding ABNB share’s maximum recovery during 2023.
Airbnb Inc (NASDAQ: ABNB): ABNB Extremely Overbought – Trend Reversal?
Technical indicators suggest Airbnb stock price is in a upside trend. Relative strength index showcases the upward momentum of ABNB share price. RSI was at 75 and has entered the overbought territory.
MACD exhibits the upward velocity of Airbnb share price. The MACD line is above the signal line after a positive crossover. The ABNB shares being overbought explains the current situation of the ABNB shares. Investors in Airbnb Inc. (NASDAQ: ABNB) need to wait for any directional change over the daily time frame chart.
Summary
Through a rising parallel channel, the price of Airbnb share is attempting to keep up its recovery momentum and hit the $150 recovery mark. However, merchants might show up soon and start the sales if the price of ABNB stock keeps rising through the parallel rising channel and breaks through the $160 resistance level after maintaining above the $150 primary resistance level. Additionally, shares of ABNB increased by 24.03% over the past three months and by 46.76% over the past six months. Technical indicators point to an upside trend for the price of Airbnb stock. Investors in Airbnb Inc. (NASDAQ: ABNB) should watch the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $141.95 and $140.00
Resistance Levels: $152.80 and $160.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
