Let’s book this (potential) breakout on $BKNG – December 7, 2023
This is Scott with your Chart of the Day. I want to take a look at Booking Holdings ( NASDAQ: BKNG ). I’m wondering if we can book this stock for a breakout, as it is close to some recent highs here and it had a really good day on volume.
This is an expensive stock so I am not going to qualify this as one that has to trade a million shares or more. Typically, I like to trade stocks that have at least a million in daily volume. But this one, of course, being a $3,000.00 stock, kind of disqualifies it from that. Because it is a higher dollar value stock, typically it won’t trade that much.
I think this stock could be on the brink of a breakout here if it can get above and stay above that 3,250.00 level, which brings it above its highs from back in August. You can see how the stock pulled back and bounced nicely off the 200-day moving average.
We had volume come in around that clear support zone. It got back above the moving averages and now could be, potentially, off to the races. I’m going to set an alert, on my software, right around that 3,250.00 level, and look for a strong move through that zone coming on volume.
This has been a really quick one here from Booking ( NASDAQ: BKNG ), I hope it’s helpful.
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