While I haven't owned it since 2021, ABNB has been on my radar for quite some time now. There are a few things that I've been making note of. First, I like the fact that Airbnb has started to deliver some strong quarterly earnings coupled with consistent sales growth. This is a good sign that the brand is here to stay as an alternative to traditional hotels. Second, the travel booking sector has been acting well recently. This makes sense with fears of a recession starting to lower and COVID-19 behind us, more and more people are likely to want to travel this year. Finally, ABNB has been setting up in a very large base. I always make a note to watch these types of bases because stocks can really start to move once they breakout from them. I particularly like the large volume that came into the stock last week. That is a good sign of accumulation.
I will be monitoring ABNB closely in the coming weeks for a potential entry point.
Risk right. Sit tight.
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