As Expected
It’s been several days (here, and here), outlining the potential for downside in Booking, BKNG.
Today’s session performed as expected.
Entered short (BKNG-26-05) early, with a stop at the day’s high (not advice, not a recommendation).
Stay Tuned
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The Danger Point®, trade mark: No. 6,505,279
Low Volume
Last Wednesday, BKNG price action penetrated the wedge boundary, then recovered.
The next day, downside pressure, closing below the trendline.
Then, Friday attempted an upside test.
Price action was weak and the volume was light.
Stay Tuned
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The Danger Point®, trade mark: No. 6,505,279
Travel & Leisure
As of Friday’s close, travel agent Booking, BKNG, is down -27.38%, from all-time highs.
Down more than 20%, joining ranks with DASH, DG, DLTR, DUOL, NFLX, SHOP, and SPOT; all of which more accurately reflect the state of the middle-class consumer, what’s left of them.
After it’s all said and done, maybe a few of these entities won’t even exist after the next melt-down (not advice, not a recommendation).
All of which, brings us to Booking Holdings, Inc.
Booking BKNG, Weekly
On the weekly timeframe, the breakdown (and test) is not as clear as on the daily.
We’ll look at that, in the next update.
Stay Tuned
Charts by StockCharts
The Danger Point®, trade mark: No. 6,505,279
The Danger Point® 