The Relative Strength (RS) Rating for Airbnb stock climbed into a new percentile Monday, with an increase from 80 to 84. The short-term rental platform intends to charge an extra 2% service fee for cross border bookings starting on April 1. This uptick in service fee will help boost revenue as Airbnb is pushing international market growth.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Is Airbnb Stock A Buy?
Airbnb stock is trying to complete a wide consolidation with a 154.95 buy point. It's closing in on the entry point so see if it can clear the breakout price in volume at least 40% above average.
The short-term rental company reported 33% EPS growth last quarter, while sales growth came in at 18%. The next quarterly results are expected on or around Feb. 13.
Airbnb stock holds the No. 1 rank among its peers in the Leisure-Travel Booking industry group.
