Airbnb sharpens decline - Analysis - 17-06-2022

AIRBNB's stock declined in the intraday levels, amid the dominance of the main downward trend in the medium and short terms, while trading alongside the downward short-term trend line, amid negative pressure from the 50-day SMA, and negative signals from the RSI, marking a loss of 8.09%, or 8.21 points, settling at 93.26, with trading volumes surpassing 9.4 million shares, above 10-day averages of 6 million shares. 

Airbnb.org's CEO, who owns 10% of the company's stock, sold 250 thousand shares recently for nearly 25 million shares. 

Therefore we expect the stock to decline and target the support of 90.30, provided the resistance of 105.00 holds on.

Trade US Stocks with 1:50 leverage

Expected trend for today: Bearish