EXPE breaks above 200-day moving average for the first time since November 6, 2019
Expedia Group Inc. (EXPE) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
EXPE finished the week 11.55% higher at 122.80 after surging $12.21 (11.04%) today on high volume, significantly outperforming the Nasdaq 100 (0.29%) following Thursday's earnings report. This is the biggest single-day gain in over four years. Today's close at 122.80 marks the highest recorded closing price since November 6, 2019. 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 Feb 14, 2020):
EXPE reported earnings of $1.24 per share after Thursday's market close. With analysts having expected an EPS of $1.19, Expedia Group Inc. surpassed market expectations by 4.2%. 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%.
Friday's trading range has been $4.72 (3.8%), that's far above the last trading month's daily average range of $2.34. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for EXPE.
Expedia Group managed to close above the 200-day moving average at 122.05 for the first time since November 6, 2019.
Crossing above the upper Bollinger Band for the first time since January 23rd, prices have shown unusually strong upward momentum in the short-term. This could either indicate a potential buying climax after which prices might head back down towards the mean of the Bollinger Bands at 110.84 or signal the beginning of a strong momentum breakout leading to even higher prices. The last time prices broke out above the upper Bollinger Band on January 23rd, EXPE actually lost -1.40% on the following trading day.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Among the 11 market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed above the upper Bollinger Band" stand out. Its common bullish interpretation has been confirmed for Expedia Group. Out of 79 times, EXPE closed higher 56.96% of the time on the next trading day after the market condition occurred.