BKNG trade ideas
Booking Long Term Buy?- RSI below 30
- Around Fibonacci retracement support level 1914
- Around Trend Based Fibonacci Extension 1897 support level
- MACD: increasing momentum. However, previous momentum streaks were 10-30 days so I would suggest to wait a bit longer.
- Price dives under Bollinger Bands
- High volumes
Conclusion: wait till panic selling stops (RSI goes up, price back into Bollinger Bands, volumes back to normal). Then get in around 1900 and hold for at least a 10% swing within a year. Target levels at 2050 and 2180.
Short BKNG after 5-down, 3-upThis 30m chart of BKNG (formerly Priceline Group) shows the standard "5-down, 3-up" pattern that is the most basic sequence in Elliott Wave theory. The corrective rally simultaneously hit the 50% Fibonacci retracement level and trendline channel resistance. Initiating a short position at 2110 and looking for price to roll over into the end of the month. Immediate profit target at 2035 with an extension lower. A move above 2185 invalidates the setup.