From a technical perspective, Airbnb, Inc. (ABNB - Free Report) is looking like an interesting pick, as it just reached a key level of support. ABNB recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
ABNB has rallied 5.9% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests ABNB could be on the verge of another move higher.
Looking at ABNB's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 8 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ABNB for more gains in the near future.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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From a technical perspective, Airbnb, Inc. (ABNB - Free Report) is looking like an interesting pick, as it just reached a key level of support. ABNB recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
ABNB has rallied 5.9% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests ABNB could be on the verge of another move higher.
Looking at ABNB's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 8 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ABNB for more gains in the near future.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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