Airbnb, Inc.

$ABNB Consolidation or breakdown?

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ABNB was hit hard this month but might start seeing some recovery in the coming weeks. Big dark pool prints came in last week along with bullish calls. Whether it's a momentum play or something larger we'll see soon. The purple lines indicate strong support and resistance levels. RSI looks like it wants to sell off a bit more before any recovery happens. So far it's trading in a tight range close to resistance 137.81. If broken, 144 can trade. The only reason why I am still neutral is the impulse move down that appears to want to culminate near all time lows. If we don't trade lower, then wave 5 was neat the 1.618 and we are starting a corrective wave.

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