Airbnb Inc. (NASDAQ: ABNB) has retained its momentum and is rising to break above the round level of $150. The price surged nearly 9.07% in the last week and added 1.78% on Friday to close at $145.82. Moreover, the stock took support from the $125 level and attained bullish momentum.
The price action analysis of ABNB stock demonstrates that the stock price escaped its consolidation phase after the last quarterly results and gained momentum from the $100 level mark in June 2023. Since then the stock price has shown a strong rally and surged above $150 without any drawdown.
Thereafter, the price experienced some profit booking due to the short-term gain and recent quarterly results. The bulls accumulated near the $125 level again which resulted in short-covering among the bears and the price resumed its long-term trend.
For Airbnb Inc., analysts’ max estimate on the 1-day time frame is $175 with a 20% upside in bullish conditions, while the minimum estimate is $78.
ABNB stock option-chain analysis shows that the current implied volatility in the market is 32.90% with a decrement of 0.90% in the last trading session. The nearest resistance of $150 has an OI of 1209 open contracts on the CALL side and 17 open contracts on the PUT side, indicating the sellers are dominating the resistance level. Buyers need to struggle to surpass above the $150 level.
ABNB Stock Price Heading to Break Above the Recent Swing High
ABNB stock price currently trades at $145.82 with an intraday gain of 1.78% on Friday. The price is steadily reaching a resistance level of $150. The option chain data shows the dominance of sellers at the $150 level. Hence, more buyers need to accumulate to counter the sellers.
The breakout of the $150 level may cause the price to surge and form a new swing high. The price seems to be in a strong uptrend adding buyers at the dips and causing the price to surge higher.
ABNB Stock Price Surged To Break Above the 50-EMA
The daily ABNB stock price chart shows that the price made a breakout of the key moving average of 50 EMA, indicating bullishness in the stock price. The RSI and MACD show are signaling bullishness in the stock and the price might continue with the momentum.
Currently, the overall technical opinion rating, including the RSI and MACD indicators, is signaling an 88% “buy” with the strongest short-term outlook on maintaining the current direction.
Conclusion
The stock of the online accommodation and travel marketplace Airbnb Inc. has gone from 100$ in June 2023 to $150 in September. The price faced some resistance and profit booking at $150 but bounced back from $125. The analysts predict a maximum price of $175 in a year.
The price needs to break above $150 to continue its upward movement. The option chain data shows more sellers than buyers at $150. Hence, more buyers need to join the rally to surpass the level.
Technical Levels
- Support levels: $124.24 and $132.48
- Resistance levels: $154.89 and $167.40
