EXPE closes below its opening price unable to hold early session gains
Expedia Group Inc. (EXPE) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (EXPE as at Aug 10, 2018):
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.
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.
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.
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.
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.