EXPE closes below its opening price unable to hold early session gains


Expedia Inc. (EXPE) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
EXPE finds buyers around 130.90 for the third day in a row
EXPE closes below its opening price unable to hold early session gains
EXPE closes within previous day's range
EXPE ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

EXPE ended the week -0.16% lower at 131.89 after losing $0.85 (-0.64%) today. Trading $0.96 higher after the open, Expedia Inc. was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for EXPE
Volatility

Friday's trading range was $2.22 (1.68%), that's slightly below last trading month's daily average range of $2.52. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 130.87. The share found buyers again today around 130.90 for the third trading day in a row after having found demand at 130.87 in the prior session and at 131.03 two days ago.

Trend

Though the stock is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 134.56 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 130.87 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Expedia Inc.
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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