Pre-Market Analysis: BKNG Potential Push Higher into EarningsBKNG saw strong earnings back in November that has since assisted in pushing it to that $5,337 High before a triple-top retest of that resistance level on the 5th, 6th, and 12th below retracing back to the current 50% Retracement on the 4-Hr reporting 6.694 beat on Earnings and 357.35M (4.68%+) on a Revenue Beat of the streets estimate.
We're currently watching for closures above the $4830s to determine a push back higher, but this could a little more, providing a great entry to continue bouncing to the upside and retesting that $5,337 High again. Goldman Sachs just raised its price target to $4,860 from $4,510 with a neutral rating. Analysts report an average rating of overweight currently, with a mean price target of $5,356.29.
We would consider potential CALL options on this with the stock price being as high as it is. Potentially the $5800 Mar 21 2025 Calls to be conservative, but still obtain a great delta push as we move into February, so long we hold the 50% Retracement here. BKNG is expected to report on Feb. 20th, 2025 which provides another potential push up into Earnings with a history of beating the streets estimates consecutively for the last 6 Quarters going back to Aug 03, 2023.
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