EXPE closes within previous day's range after lackluster session
Expedia Group Inc. (EXPE) Technical Analysis Report for Feb 13, 2020 | by Techniquant Editorial Team
EXPE ended Thursday at 110.59 losing $0.38 (-0.34%) on low volume, slightly underperforming the Nasdaq 100 (-0.18%) ahead of today's earnings report. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (EXPE as at Feb 13, 2020):
EXPE is set to report earnings after today's market close. For the upcoming report, analysts expect the company to have earned $1.19 per share. The company's last earnings report was released on Nov. 6, 2019, when Expedia Group Inc. reported earnings of $3.38 per share failing market expectations by -11.3%.
Thursday's trading range has been $0.78 (0.71%), that's far below the last trading month's daily average range of $2.12. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for EXPE.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Additionally, two candlestick patterns are matching today's price action, the Bullish Short Candle and the White Candle which are both known as bullish patterns.
Prices are trading close to the key technical support level at 109.25 (S1).
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying could accelerate should prices move above the close-by swing high at 111.07 where further buy stops might get activated. With prices trading close to this year's high at 114.28, upside momentum could speed up should Expedia Group be able to break out to new highs for the year. With prices trading close to this year's low at 106.28, downside momentum might accelerate should the market break out to new lows for the year. As prices are trading close to February's low at 107.38, downside momentum could speed up should the stock mark new lows for the month.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the Stock Earning Report based market condition "Trading Day before Earnings Report" stand out. Though it is usually interpreted as neutral, it has actually shown to be bullish for Expedia Group. Out of 31 times, EXPE closed higher 67.74% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after two trading days, showing a win rate of 64.52% with an average market move of 1.22%.