The market is likely to rally into the spring. The NASDAQ
NDAQ
was the hardest hit index in 2022, so a search has been run for rebounding stocks. The relative strength/seasonality screen shows that Booking Holdings is ranked number one in the NASDAQ 100. In fact, airline, cruise line, and resort stocks are at the top of the list. Technology is not highly rated. Below, we see that the first four months of the year have been the strongest. In fact, the stock has risen from February 6th to May 1st 83% of the time over the last 23 years. The weekly graph reveals that price broke out from a falling wedge formation and that relative strength has reversed a three-year downtrend. The 2600 level is the first price objective.
Booking Holdings Monthly Histogram
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