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TRIP pops to highest close since April 5th


Technical Analysis Report for TRIP - Apr 16, 2018 [1 min read]
Highlights
Traders officially love to buy TRIP around 40.26 level
TRIP pushes through 50-day moving average
TRIP unable to break through key resistance level
TRIP finds support at 20-day moving average
TRIP pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

TRIP finished Monday at 41.14 gaining $0.62 (1.53%) on low volume. Today's closing price of 41.14 marks the highest close since April 5th. Closing above Friday's high at 41.04, TripAdvisor confirms its breakout through the prior session's high having traded $0.94 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TRIP
Volatility

Monday's trading range was $1.72 (4.22%), that's far above last trading month's daily average range of $1.26. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 39.99 and 41.98 which it has been in now for the last trading week.

Support/Resistance

Unable to break through the key technical resistance level at 41.34, the stock closed below it after spiking as high as 41.98 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. The share was bought again around 40.26 after having seen lows at 40.18, 40.28 and 40.21 in the last three trading sessions. Obviously there is something going on at that level. After trading as low as 40.26 during the day, the market found support at the 20-day moving average at 40.77.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. TRIP managed to break above the 50-day moving average at 40.98 today for the first time since April 10th.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 40.18 where further sell stops could get triggered. As prices are trading close to April's high at 42.02, upside momentum might speed up should TripAdvisor mark new highs for the month.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bullish Break through SMA 50 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Low close to previous three Lows TQ Pro Members Only
More market conditions identified for TQ Pro members...
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