Chesky said recent surveys have shown that people miss traveling, but not all travel is created equal. Business travel and tourist destinations are what people miss the least, he said, but everyone is clamoring for more time with family and friends. That fits right into Airbnb's wheelhouse, as there's no better place to enjoy family than in a home.
Chesky also noted that in the Zoom (ZM) economy, the lines between traveling and living are blurring. People are discovering they can work from anywhere and they're doing it more and more.
Let's check out the charts and indicators.
In the daily Japanese candlestick chart of ABNB, below, we do not have a lot of price history to work with but what we do have suggests weakness ahead. Prices have been declining since the middle of the month and are poised to test and maybe break the rising 50-day moving average line.
The On-Balance-Volume (OBV) line shows weakness from late January and tells us that sellers of ABNB have been more aggressive sellers in recent weeks. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside telling us that the trend-strength has weakened.
In this daily Point and Figure chart of ABNB, below, we can see a potential upside price target of $273 but a trade at $173.49 or lower is likely to weaken the chart and precipitate further declines.
Bottom-line strategy: These two charts of ABNB, above, suggest weakness ahead for ABNB. Stand aside for now. Maybe things will look better in several weeks.