ABNB Comeback Story

(a bear-to-bull shift)
 
   
     
   
 
FEB 8, 2024
   
SCOTT WELSH’S TICKER TALES
Book a Stay in ABNB?
 

It’s so easy to forget how badly January started. 

It was day after day of losing, and day after day of bearish doomsday predictions.

And that losing put a lot of high-momentum stocks on pause.

But many of them have roared back and are threatening to break out once again.

ABNB is one of those stocks.

Here’s the chart:

 
 

When we looked at it about a month ago, it came near a breakout but fell back.

Now it’s charging back to the demarcation level once again.

If it breaks through this time, it could go on a big run.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

 
 
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GUEST POST: JACK CARTER
Smart Birds…
 

I just heard about this the other day and thought you might find it interesting…

In the jungle, there's a cool thing that happens with army ants and birds.

The ants march around the forest floor, scaring bugs and small creatures up out of their hiding spots.

Then there’s these smart birds that follow the ants and grab these bugs and small critters for food.

The birds don't need to compete with the ants — they just follow them around and when a critter runs for cover, they can swoop down and grab an easy meal.

I just thought that was interesting.

It made me think of a project I’m working on. Stay tuned…

Trade Well,

— Jack Carter
   
 

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