Expedia (EXPE) is going on the watch list as it has two plays--a potential bearish play if it can break support, with a potential long play as well. EXPE has been trending lower since February and not making highs with the market, it is now closing near a swing low and key support at 61.43.
EXPE has tested this level a few times since January and once again it is here, the more the support line is tested the weaker it becomes. If EXPE were to negate this bearish looking chart it would have to get above 63.65 which has capped all rallies since the swing low at 61.43.
What makes the 63.65 level significant is that there is very little short-term resistance till about 65.80 so a break of that resistance could mean a nice 3% move. EXPE right now is in a short-term range with the bottom of the range being a long-term support holding EXPE up from a potential 6% and a short-term resistance holding EXPE from a 3% rally. The risk reward favors the bears but they need to break below 61.43 first.
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Expedia Inc: Two Potential Plays
Published 03/26/2013, 02:56 AM
Updated 07/09/2023, 06:31 AM
Expedia Inc: Two Potential Plays
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