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- 1 Airbnb (ABNB stock) price trades above the 20, and 50-day daily moving average, and buyers are re-establishing control from Fibo 38.20%.
- 2 Airbnb Inc. ( NASDAQ: ABNB) stock’s 52-week price range is around $81 – $154.
- 3 The year-to-date return of Airbnb Inc. is 51.85% while the three-month return is 17.50%
ABNB stock price was at $132.69 with an intraday increase of 0.87%. Moreover, the intraday trading volume of ABNB is 4.518 Million more than the 10-day aggregate volume of 4.072 Million. The stock has a market cap of $84.704 Billion. Analysts gave a yearly target price of $175, suggesting a growth outlook for future sessions.
The ABNB stock (Airbnb) continues to show bullish momentum in the uptrend above the key moving averages. However, the trend has recently shown some signs of losing strength in the share price. On the daily charts, ABNB stock is in the bullish zone and has maintained the uptrend above the 20 and 50-day EMAs.
According to the price action, it seems that the ABNB stock is ready for a significant increase, with potential growth in price for the upcoming sessions. The stock’s upward direction is supported by the buyers who are trying hard to maintain these levels.
ABNB stock has been rising since the beginning of 2023 and has shown buyer accumulation. The stock encountered a barrier near the supply range and fluctuated as a result it fell sharply in the previous sessions.
Based on recent data, the revenue of Q2, 2023 was $2.484 Billion with a net income of 650.00 Million. Moreover, the ABNB stock estimated EPS for Q2’ 23 was 0.80, and the reported EPS was 0.98 which gave a positive surprise of 21.92%. Moreover, the forecasted EPS for the next quarter is positive at 2.10.
Brian Chesky is the top shareholder of ABNB stock and owns 10.79% of the company, with a current value of $9.1 Billion and a total ABNB share count of 68,862,141. Moreover, in the recent insider transactions of Airbnb Inc, in the last three to six months a hefty amount of ABNB shareholding in the hospitality company has been sold. Sequoia Capital Operations LLC sold nearly 8,153 shares, worth $867.2 K (approx.), by May 23rd, 2023. This is as per the information on the financial website, Simply Wall St.
ABNB Stock Price Technical Analysis in 1-D Timeframe
As per price action, ABNB was in a bullish trend from December last year even before 2023 started. The price found support around $81 and was strongly bought as it was available at a discount. From the low of $81 to the high of $154, the journey was zig zag and upwards, the high was reached by July 31st, 2023. Moreover, the price spent a fair amount of time on Fibonacci levels of 61.80%, 50.00%, and 38.20% and stepped up smoothly from these Fibonacci levels.
As per the CMP $132.69 (at press time), the price faced resistance which led to sell-off and dropped to the 38.20% level and bounced back upwards.
The current stock price of ABNB stock might achieve more, there is a possibility for the price to move toward the next resistance level of $140 and $144.
On the other hand, if the price breaks below the $129 significant support level, it might fall toward $123 and beyond.
At the time of publishing, Airbnb Inc. is trading above the 20, and 50 EMA. RSI is around 50, turned bullish as it took 14 SMA support and MACD narrowed on each other and a bullish cross is noticed.
Summary
The ABNB stock price has risen above $129 to regain bullish momentum and if it holds then it might potentially break the annual high of $154. Technical parameters for ABNB also support the increase in bullish momentum. Airbnb Inc. stock prices are bullish on the 1-D time frame as indicators turn bullish.
Technical Levels
Support levels: The nearest support levels for ABNB price are $129 and $123.
Resistance levels: The nearest resistance levels for the ABNB stock price are $140 and $144.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
