EXPE closes within previous day's range after lackluster session
Expedia Group Inc. (EXPE) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team
EXPE ended Thursday at 64.41 losing $1.48 (-2.25%), strongly underperforming the Nasdaq 100 (5.72%). 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 Mar 26, 2020):
Thursday's trading range has been $5.43 (8.4%), that's below the last trading month's daily average range of $7.40. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above 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 Northern Doji which is known as bearish pattern and one neutral pattern, the Doji. The last time a Doji showed up on March 17th, EXPE lost -15.65% on the following trading day.
Prices are trading close to the key technical resistance level at 70.71 (R1).
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 70.71 where further buy stops might get triggered.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Doji" stand out. While it is usually interpreted as neutral, it has actually shown to be bullish for Expedia Group. Out of 134 times, EXPE closed higher 55.97% 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 10 trading days, showing a win rate of 57.46% with an average market move of 0.80%.