Stock of the day: Booking Holdings

An interesting technical setup is forming on Booking Holdings, as the stock finds itself at a crucial juncture within a larger uptrend. What we currently observe is a descending flag pattern, marked with black lines. This type of formation is typically a bullish continuation pattern, suggesting the recent correction may just be a pause before another leg higher.

The key support zone in play is highlighted with a yellow area, representing the horizontal level established by the July 2024 highs, which was also respected in October 2024. Most recently, at the start of April, the price bounced off this same support, which may indicate that the correction is now complete.

For a proper buy signal, we need a breakout above the upper boundary of the flag. A daily close above this resistance would activate a bullish continuation, confirming the resumption of the uptrend and providing an attractive technical entry.

Until then, we remain in a waiting phase, but the bias is certainly positive. Traders should watch this setup closely—Booking may soon be ready to book another move higher.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-booking-holdings