Airbnb, Inc. (ABNB) Just Overtook the 20-Day Moving Average

From a technical perspective, Airbnb, Inc. (ABNB) is looking like an interesting pick, as it just reached a key level of support. ABNB recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

Shares of ABNB have been moving higher over the past four weeks, up 20.2%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that ABNB could be poised for a continued surge.

Once investors consider ABNB's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 9 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

Investors should think about putting ABNB on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research