Is Airbnb Heading South for the Winter?
Airbnb has been trending lower since late 2021. Now, after a period of consolidation, some traders may expect the weakness to resume.
The main pattern on today’s chart is the 100-day simple moving average (SMA), which has been steadily falling all year. ABNB is back under this line after unsuccessfully trying to reclaim it in August, September and earlier this month. That may suggest its longer-term downtrend is continuing.
Second, the apartment-sharing stock bounced around $130 three times between May 2021 and March 2022. But it broke under that level in May 2022 and has remained there since. It also marked the intermediate-term peak last month. Has old support become new resistance?
Finally, this chart includes our 2 MA Ratio custom script. The default settings of the 8-day exponential moving average (EMA) and 21-day EMA are used. Notice how the oscillator turned negative recently as the fast EMA dipped under the slow EMA. That could also suggest bears are taking charge of the price action again.
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TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The main pattern on today’s chart is the 100-day simple moving average (SMA), which has been steadily falling all year. ABNB is back under this line after unsuccessfully trying to reclaim it in August, September and earlier this month. That may suggest its longer-term downtrend is continuing.
Second, the apartment-sharing stock bounced around $130 three times between May 2021 and March 2022. But it broke under that level in May 2022 and has remained there since. It also marked the intermediate-term peak last month. Has old support become new resistance?
Finally, this chart includes our 2 MA Ratio custom script. The default settings of the 8-day exponential moving average (EMA) and 21-day EMA are used. Notice how the oscillator turned negative recently as the fast EMA dipped under the slow EMA. That could also suggest bears are taking charge of the price action again.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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