A Look at $ABNB

A subscriber has asked about $ABNB, so let’s take a look.

From it’s high last year, it dropped (green arrow), consolidated (red structure), dropped, and it appears to be in a consolidation now. Since the primary trend is still firmly down, I think it is safe to expect that to continue. I have tried to count this, but don’t see a readily available way to do it, so I will stick with these basic structures instead.

I believe the markets may become bullish into December, and so it’s probably not unreasonable to expect this to rally, too. If it does, I would expect it to stay under the red trend line of the structure it’s in now, before selling off again. I have noted a plausible target for that decline on the chart.

ABNB


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