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.


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.

Leave a Reply

Your email address will not be published. Required fields are marked *