Booking Holdings Inc. (NASDAQ: BKNG) stock price has been super bullish on the charts over the last three quarters. The BKNG stock price witnessed a gain of 55% year-to-date. The bulls have firmly established their positions and are dominating the trend.
The daily chart shows that the stock price showed a small drawdown due to profit booking after the recent quarterly results. However, the drawdown was eroded by aggressive buyers above the 50-day EMA and the price surged again. Currently, the price is nearing its previous high of $3250 level. The breakout of this may lead the price to an all-time high of $3300 again.
The technical indicators imply a strong bullish sentiment. The stock price has constantly maintained itself above the 50-day EMA indicating how a strong uptrend prevailed. The price trades in the bullish territory and might surpass the upper resistance to hit a round level of $3300.
Analysts offering a 1-year price forecast for Booking Holdings Inc. have a maximum estimate of $4300 with a potential of 36% on the upside and a drawdown of 24% which could drag the price to a low of $2373.
BKNG stock option-chain analysis shows that the current implied volatility in the market is 23.54% with an increment of 0.51% in the last trading session. The nearest resistance of $3200 has an OI of 175 open contracts on the CALL side and 103 open contracts on the PUT side, indicating the sellers are slightly dominating the resistance level. Buyers may need to struggle to surpass the $3200 level.
BKNG Stock Price Shows Formation of Bearish Flag Over 1-D Timeframe
BKNG stock price currently trades at $3160 with an intraday loss of 1.17% on Friday, September 15th. The daily chart shows the formation of a bearish flag. The breakdown of the flag might trigger a selloff and the price might decline to the lower levels.
The price trend is optimistic in the short-term as well as long-term. The breakout above the $3248 level may lead the price to a higher level of $3300.
Technical Indicators Show Strength over the Charts
The daily BKNG stock price chart shows that the price has constantly maintained above the 50-EMA indicating a strength over the charts. The EMA shows a bullish crossover indicating a strong uptrend prevailed in the market.
Currently, the overall technical opinion rating, including the RSI and MACD indicators, is signaling a 90% “buy” with an Average short-term outlook on maintaining the current direction.
Conclusion
Booking Holdings Inc. (BKNG) stock price has been rising steadily over the last three quarters and is close to its previous high of $3250. The stock has a strong bullish trend and may break out to a new high of $3300.
The technical indicators are also optimistic and support the uptrend. The analysts have a bullish outlook for the stock and expect it to reach $4300 in a year. However, the stock may face some profit booking and correction if it breaks down from a bearish flag pattern.
Technical Levels
- Support levels: $3145 and $3013
- Resistance levels: $3248 and $3300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/09/16/bkng-stock-price-prediction-can-bkng-conquer-the-3300-mark/