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  • Writer's pictureT. Livingston

ABNB Looks To Be An Institutional Favorite

Airbnb has been a stock I have been monitoring very closely over the last few months. I traded it earlier in the year, and recently blogged that it was a stock I was watching very closely. There are a few things that really interest me about this stock. First, I really love the story. This is a company that has totally revolutionized how people vacation. It's easy for the average person to see how Airbnb is the dominant player in this industry in 2021, and it is showing up in its' fundamentals. With strong sales growth over the last year, ABNB is making up for all the lost revenue it experienced in 2020 due to COVID-19.

While looking at its' weekly chart, there are a few things that catch my eye. First, after finding support at the $130 level, ABNB has continued to hold above its' 10-week line, which is an excellent sign of institutional support. In addition, there was some heavy skyscraper accumulation coming into the stock in September. This was followed by a calm, low volume pullback in October. That is a combination I always like to see. Finally, the number of funds owning ABNB has grown by over 50% since December which is another excellent sign.

It is important to note that Airbnb reports earnings after the close and thus is more likely to experience volatility. Because I have a cushion, I am able to hold ABNB through the earnings report without adding excessive risk to my account.

Risk right. Sit tight.


To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.

Full disclosure: I currently own ABNB.

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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