Booking Holding Inc. Stock Code BKNG.NAS
Price had moved below the cloud on 21 September and a correction brought price up to the upper edge the cloud but price was capped by the upper edge of the rising cloud. With price unable to penetrate above the cloud, price resumes it downtrend and has moved below the cloud again. A gap created 2 days ago also reinforced the bearish trend. Conversion and Base lines had a bearish crossover, hinting of a bearish trend ahead. Lagging Span is below price of 26 days ago and below the cloud, confirming the bearish trend. MACD has turned bearish. We think price is likely to move lower to $1501, which is the N price projection target of this down move.
$1686 Short Sell
$1547 Price Target
$1796 Risk Management Stop
3 weeks Trade Duration