Technical Analysis of ExpediaDisclaimer: I don’t hold shares of Expedia
The below analysis is not a trading or investment recommendation & is only for learning purpose.
1. Expedia is breaking out from it’s previous life time high after forming a rounding bottom on a major time frame.
2. A failed test was seen with price re-testing the resistance turned support level around $188 on the daily time frame indicating
strong bullishness.
3. The stock pulled back to the 38.2% Fibonacci level on the monthly time frame before finding support.
4. Despite witnessing selling pressure indicated by the long upper wick on the weekly candle last week, the stock held the
resistance turned support so far.
5. In the longer term, based on Fibonacci levels, Expedia could face resistance around the levels of $230, $250 & $280.
6. The $280 area also marks the completion of the AB=CD pattern & coincides with the 1.618 Fib level.
7. The stock also now trades above the 200 MA & 20 MA on both daily & weekly time frames. Price trading above 20MA on the daily
time frame demonstrates institutional support & interest.
All the best!
