Stock of the day: Booking Holdings

By Tomasz Wisniewski|

Published: December 05 2022, 14:43 GMT+0

Stock of the day: Booking Holdings


Our hero of the day is Booking Holdings. On Friday, the price created a confirmation of a major buy signal from the middle of November, which is definitely worth considering, should you be looking for an interesting trading occasion for December.

In November, the price managed to break the long-term down trendline (red) connecting lower highs since this year’s February. What’s more, the price broke a horizontal resistance on the 1910 USD (blue) and successfully used it as a support later.

The confirmation mentioned in the first paragraph stems from the fact that the price created a bullish engulfing candlestick pattern (yellow) at the end of the last week – the Friday candle entirely covers the bearish one from Thursday. This is considered a strong bullish sign and goes in line with the latest developments on the chart here.

As long as the price stays above the blue support, the sentiment on BKNG is positive.