Airbnb (ABNB) saw a slight uptick in its latest intraday trading, even as the stock continues to face negative pressure while trading below its 50-day simple moving average. The medium-term downtrend remains dominant, with the price moving along a descending trendline. These recent gains appear to be an attempt to recover part of its previous losses, while the stock also works on easing its clear oversold conditions on the Relative Strength Indicators, especially as early positive signals begin to appear.

 

Therefore, we expect the stock to decline in the upcoming sessions, as long as it remains below $117.30, targeting the support level at $105.40.

 

Today’s price forecast: Bearish