Back to top

Image: Bigstock

Airbnb, Inc. (ABNB) Recently Broke Out Above the 20-Day Moving Average

Read MoreHide Full Article

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.

Moving Average Chart for ABNB

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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Airbnb, Inc. (ABNB) - free report >>

Published in