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ABNB Builds A Monster Base

Airbnb has totally revolutionized the travel industry, allowing homeowners to generate a new source of income, as well as providing more opportunities for travelers to find unique vacation experiences. ABNB has been on my watchlist for quite some time now. I owned it earlier this year, but was knocked out after buying it. However, the fundamentals are still quite strong, demonstrated by the accelerating sales growth over the past three quarters. I have continued to monitor it on a weekly basis to see if it will once again offer a possible entry point. What I also like about Airbnb is that it has seen some really strong institutional interest over the past year as indicated by the drastic rise in fund ownership.

ABNB has been building a very large base over the course of 2021. These types of bases offer massive potential. I also like the large accumulation that is evident in Airbnb's chart. While the daily chart often has a lot of noise, the weekly chart shows that ABNB is setting up well in a cup and handle style base. I will continue to keep ABNB on my watchlist for an entry point.

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Risk right. Sit tight.


Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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