BKNG may reverse SHORT
BKNG is an expensive stock; it id not get that way being a slouch. Summer travel is sixty days
away. The 2H chart shows the highs of February followed by a paradoxical fall with good
earnings. Traders wanted better. Price fell past the Fibonacci support zone and into
the lower VWAP band lines.
Fundamentally German regulators are suing BKNG for some issues with deceptive advertising
and promotions with partners. In the past week price again rose this time to stall in that same
Fibonacci zone. The predictive algorithm of Lux Algo forecasts a rejection here with the price
moving down. I will short a single share of BKNG here. The stop loss will be set at 3675
while targeting 3440 above a support zone. I am expecting of $175 in realized profits in 5-10
days.
away. The 2H chart shows the highs of February followed by a paradoxical fall with good
earnings. Traders wanted better. Price fell past the Fibonacci support zone and into
the lower VWAP band lines.
Fundamentally German regulators are suing BKNG for some issues with deceptive advertising
and promotions with partners. In the past week price again rose this time to stall in that same
Fibonacci zone. The predictive algorithm of Lux Algo forecasts a rejection here with the price
moving down. I will short a single share of BKNG here. The stop loss will be set at 3675
while targeting 3440 above a support zone. I am expecting of $175 in realized profits in 5-10
days.
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