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TRIP Stock Technical Analysis – TRIP’s big break?


Apr.27.2017

TRIP Stock Technical Analysis - TripAdvisor's big break?

A couple of days ago, I wrote an article about TripAdvisor, that had a part dedicated to the TRIP stock technical analysis. In that article, I mentioned that it seems that TripAdvisor stock has bottomed out, and especially with a triple bottom that formed, the likelihood of a reversal pattern was very high. In the chart below, it was at 43.53, and there seems to be strong resistance at the neckline at 43.84. The TRIP stock seems trapped below this point and is only scratching the ceiling for the past two months.

 

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TRIP Stock Technical Analysis TRIP Stock Technical Analysis

 

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Two days after the article was published, the TRIP stock finally broke the neckline at 43.84, and is at 45.23 as of now. It has already pierced through the lower band of the Ichimoku cloud, and this could be another resistance level for the TRIP stock to break.

Another strong indicator that the TRIP stock is going up is that the Tenkan line (blue line) crossed over the Kijun (maroon line), forming a golden cross. Another wonder of this significant crossroad is that the golden cross here is perfectly aligned with the 78% Fibonacci level at 42.44.

TRIP Stock Technical Analysis TRIP Stock Technical Analysis

 

 

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TRIP Stock Technical Analysis - Investing strategy

Right now, we have three strong buy signals—triple bottom, breaking above the neckline, the Tenkan line crossing above the Kijun line—and this could be a good level to buy. However, if you are a conservative risk taker, you might want to wait for a confirmation for the price to break above the Ichimoku cloud, and buy when it retraces back down.

To find out more about your risk tolerance, click here.

 

Here are Invest Diva's calculations for important approximate level.

Support Levels Turning Point Resistance Levels
31.40 43.84 51.35
41.18 46.61 56.96

 

Good luck!

Cherie Koh

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