Booking Holdings Stock Pulls Back: Technical Levels To Watch

Booking Holdings Inc. BKNG shares gapped down Thursday.

The company reported a first-quarter loss that was narrower than expected. The company posted a loss of $5.26 per share against a Street estimate of $7.26 per share. Revenue of $1.14 billion surpassed the estimate of $1.12 billion. The company's performance was likely hit by travel restrictions due to COVID-19.

Booking Holdings Daily Chart Analysis

  • The stock looks to have recently broken out of a bullish flag pattern and is looking to consolidate.
  • The stock is trading below the 50-day moving average (green), and above the 200-day moving average (blue). This indicates the stock is most likely facing a period of consolidation.
  • The 50-day moving average may act as a place of resistance for the stock, and the 200-day moving average is somewhere the stock possibly finds support.

Key Booking Holdings Levels To Watch

  • The stock looks to have broken out of a bullish flag pattern and may be facing a period of consolidation.
  • The stock moved higher before facing a period of consolidation from 2018-2021. This year, the stock has broken the resistance lines formed by connecting previous highs.
  • The stock may face a period of consolidation throughout the coming months before the stock may make a large move again.

What’s Next For Booking Holdings?

Bullish technical traders would like to see the stock continue to form higher lows and rise. A period of consolidation may follow before the stock makes another move.

Bearish technical traders would like to see the stock fall back to the levels it was once at before the bullish flag broke out. 

Booking Holding is a top 10 holding in the following ETFs: ETFMG Travel Tech ETF AWAY, Global X E-commerce ETF EBIZ, Invesco NASDAQ Internet ETF PNQI and iShares MSCI USA Quality Factor ETF QUAL

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