Airbnb is expected to report earnings of $0.80 on revenue of $2.42bn.

Airbnb’s stock is now trading at around $144.05 after the last couple of days has been red. It is now approaching a key level of support at $142.75 (along the trendline), which dates back to the 26^th of May. A break below this trendline could lead to a bigger pullback, with the next support level then of $134.93. Although, that would be a 6% move which would need to be prompted by a poor earnings outcome (due tomorrow). On the other hand, a positive earnings report may lead to some price consolidation along the trendline. In that scenario, we would then look at the resistance levels sitting at $147.34 then at $148.40 and then at $150.76. A move and close above $150.76 would offer a chance at reaching the high of this year once again ($154.94). Glancing at the technical indicators, MACD has just turned negative on the daily timeframe with a sharp decline from the RSI to 53. Strong indications that more downside is possible. Though for the time being support remains, and sometimes stocks/markets adjust themselves before big earnings. Enticing and deceiving investors to enter their positions. The next couple of days may be volatile so traders/investors should be cautious.