CTRP closes lower for the 4th day in a row


Ctrip.com International Ltd. (CTRP) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
CTRP breaks key support level
CTRP dominated by bears dragging the market lower throughout the day
CTRP closes lower for the 4th day in a row
CTRP ends the day on a bearish note closing near the low of the day
CTRP breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, CTRP ended Monday at 42.64 tanking $1.27 (-2.89%). Today's closing price of 42.64 marks the lowest close since January 6, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 43.53, the market confirms its breakout through the previous session's low having traded $1.17 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for CTRP
Volatility

Monday's trading range was $1.61 (3.67%), that's slightly above last trading month's daily average range of $1.43. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Support/Resistance

Breaking below the key support level at 43.02 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

2,017's low at 40.40 is within reach and we might see further downside momentum should the stock break out past.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.

Market Conditions for Ctrip.com International Ltd.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
RSI(14) below 30 TQ Pro Members Only
Black Candle TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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