$BKNG: Buying Booking Holdings stock in a pullback

Booking Holdings Inc. is an US American travel technology company. It owns and operates several travel fare aggregators and travel fare metasearch engines including namesake and flagship Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. It operates websites in about 40 languages and 200 countries. Founded 1996, Booking Holdings is headquartered in Norwalk, Connecticut, US. As a part of both NASDAQ-100 and S&P-100 indices, one can trade it under the ticker $BKNG at NASDAQ.

Booking Holdings monthly Elliott Wave analysis 03.17.2024

The monthly chart below shows the Booking Holdings shares $BKNG traded at NASDAQ. From the all-time lows, the stock price has developed an initial cycle higher in black wave ((I)) of grand super cycle degree towards 2716 highs in February 2022. Within it, blue wave (III) shows an extension beyond 2.0x of the length of the wave (I). After the impulsive structure higher, a correction lower in black wave ((II)) has ended in October 2022. From $1617 lows, next bullish cycle in black wave ((III)) has started. Break of the February 2022 highs has confirmed that. The target for black wave ((III)) is 4336-6016 area and even beyond.

In shorter cycles, we can see price nesting action within black wave ((III)). Firstly, nest cosnsisting of blue waves (I)-(II) has ended in November 2023. Secondly, another nest comprising red waves I-II is currently in development. Once accomplished, expect acceleration higher in red wave III of blue wave (III).

Booking Holdings four hour Elliott Wave analysis 03.17.2024

The 4H chart below shows in more detail the second nest consisting of red waves I-II. It is currently in progress. From November 2023 lows, red wave I of blue wave (III) has ended in February 2024 at new all-time highs. It has the pattern of an impulse being a 5-3-5-3-5 structure. From the 3918 highs, correction  in red wave II should provide an opportunity for an acceleration higher in red wave III. It unfolds as a zigzag pattern. Firstly, from the February 2024, an impulse lower in black wave ((A)) has set a low at $3500 in the same month. Secondly, a bounce in black wave ((B)) has printed a connector high at $3698. Thirdly, $BKNG has broken $3500 lows opening up a bearish sequence. Now, it should reach 3283-3025 area. There, market should turn higher for another bullish cycle.

Investors and traders can be using 3283-3025 bluebox area as a buying opportunity in $BKNG targeting 4317-5117 and higher in short-term and 4336-6016 and beyond in the long run.