Airbnb (ABNB) desperately needs to right the ship — and that opportunity may come this Thursday when the homestay marketplace releases its fourth-quarter earnings report. Since the beginning of January, ABNB stock is down roughly 11% while over the past 52 weeks, the security dipped more than 10%. As such, ABNB dubiously earned the label of 24% Weak Sell from the Barchart Technical Opinion indicator.
Of course, the thing about Sell ratings is that eventually, they could transition back to Buy ratings. If you look at Barchart’s own Top Trade Alerts, you’ll see that neither label sticks indefinitely. With constant gyration between pessimism and optimism, a Sell signal could be a contrarian indicator lurking in disguise.
