Swing Trade Idea (BKNG) – May 13, 2022
Our bullish trade for Friday, May 13th is Booking Holdings Inc. (BKNG). BKNG is part of the Discretionary Sector that BKNG has outperformed by 11.11% over the last month.
BKNG recently found support at a key level of $2,050 and respected this level on the retest, which provides a good risk/reward bullish entry. The Relative Strength is 6 out of 10.
As a close, if BKNG were to trade below $2,000 for multiple days, this would invalidate our analysis and will focus on cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves above $168.
