Market Spotlight: Airbnb Earnings Up Next

Airbnb Reporting TodayAlong with January US CPI we also have two big US earnings reports due today with Coca Cola and Airbnb reporting Q4 results. Looking at the latter, shareholders are hoping for a seventh consecutive positive set of earnings results. Given that the market is looking for both EPS and revenues to have fallen from the prior quarter, you might argue that the bar is set relatively low for a strong result today which should help propel Airbnb shares higher.Bullish Expectations for AirbnbLooking at recent results in the travel sector, Q4 earnings have been mostly positive, bar the weakness in Expedia, suggesting that Airbnb stands to post some decent results today. The post-pandemic surge in travel and holidays is helping drive a rebound across the sector of which Airbnb is likely to have capitalised in Q4. Ideally, for bulls in the stock, today’s earnings would come in above forecasts while US CPI would undershoot, creating perfect conditions for a further rally. Still, regardless of US CPI, if today’s results show strength, Airbnb should be poised for a breakout in coming weeks and months.  Technical ViewsAirbnbThe rally in Airbnb shares off the 87.01 level has seen the market stalling yet again into a retest of the broken bullish trend line. However, the stock has found support ahead of the 103.67 level support and while this area holds, the focus is on a continuation higher and an eventual breakout above the 126.55 level.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-airbnb-earnings-up-next"
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