Airbnb (ABNB) stock price recorded a decline in its latest intraday trading, after encountering resistance at its 50-day SMA, which hindered its ability to build on previous gains. This comes alongside the emergence of a negative crossover on the Stochastic indicator after the stock managed to ease its oversold conditions, giving it room to post further declines in the near term. This negative performance is also accompanied by a notable increase in trading volumes, signaling clear dominance by selling pressure.

Therefore we expect the stock price to decline during its upcoming intraday trading sessions, as long as it remains below the resistance level at $134.00, targeting the support level at $123.75.

Todays price forecast: Bearish