TRIP finds buyers around 54.00 for the third day in a row


TripAdvisor (TRIP) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
TRIP finds buyers around 54.00 for the third day in a row
TRIP closes below its opening price unable to hold early session gains
TRIP unable to break through key resistance level
TRIP stuck within tight trading range
TRIP closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

TRIP ended the week 2.03% higher at 54.35 after losing $0.69 (-1.25%) today. Trading $0.40 higher after the open, the share 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 in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TRIP
Volatility

Friday's trading range was $0.84 (1.54%), that's below last trading month's daily average range of $1.97. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 53.65 and 55.69 which it has been in now for the last three days.

Support/Resistance

Unable to break through the key technical resistance level at 54.84, TripAdvisor closed below it after spiking as high as 54.84 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. The stock found buyers again today around 54.00 for the third trading day in a row after having found demand at 54.01 in the previous session and at 53.65 two days ago.

Trend

While the market 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 speed up should prices move above the nearby swing high at 55.69 where further buy stops could get activated.

Conclusion

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

Market Conditions for TripAdvisor
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

TRIP closes -0.32% lower at 53.55

Aug 17, 2018
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