EarningsBeats.com Digest for January 10, 2022
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Ascending Triangle Looks Bullish For This Travel Stock
One of the hardest hit stocks during the pandemic was Expedia, Inc. (EXPE), which fell from 124.11 on February 18, 2020 to a low of 40.76 one month later on March 18, 2020. One year later, on March 18, 2021, the one year anniversary of its COVID-related low, EXPE reached a high of 187.93 to establish a top that's become key price resistance in a
bullish ascending triangle pattern:
The recent breakout in the AD line to a fresh new high AND the bullish ascending triangle pattern suggest EXPE is likely to trade higher. If it can break above 190 on a closing basis, especially on higher than average volume, the measurement on this breakout would be just above 240. The measurement is determined by the distance between the price resistance of the triangle (190) and the initial low (Point B) in the A-B-C-D-E triangle pattern.
That's roughly 28%. Point E is established with the confirming price and volume breakout.
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Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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