ABNB BUSTNow before you panic about what I am about to share, I want to say that I truly believe in Airbnb as a company. I personally own and operate Airbnbs and see the potential behind this company.
However, I do not like what I am seeing on these charts at the moment. I would not be surprised if this stock corrects if this wedge formation is broken.
We may first see one last impulse wave upwards towards the top of the wedge before falling. Key levels to watch will be a sharp corrective wave down below the trendlines. Weekly levels have been marked below.
Only time will tell.