CTRP closes lower for the 4th day in a row


Ctrip.com International Ltd. (CTRP) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

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

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 Candlestick Chart (CTRP as at Apr 16, 2018):

Daily technical analysis candlestick chart for Ctrip.com International Ltd. (CTRP) as at Apr 16, 2018

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.

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

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

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


Market Conditions for CTRP as at Apr 16, 2018

Loading Market Conditions for CTRP (Ctrip.com International Ltd.)...
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