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Possible Bearish Inside Day Candle Pattern Detected for Ctrip.com International (NASDAQ:CTRP)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ctrip.com International (NASDAQ:CTRP) based on the price action in the company's shares. Today's price range of $48.11 and $48.50 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Ctrip.com International may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ctrip.com International Ltd., is a consolidator of hotel accommodations and airline tickets in China.

Ctrip.com International (NASDAQ:CTRP) has potential upside of 145.4% based on a current price of $48.11 and analysts' consensus price target of $118.07. The stock should find initial support at its 50-day moving average (MA) of $43.83 and further support at its 200-day MA of $41.70.

In the past 52 weeks, shares of Ctrip.com International have traded between a low of $27.25 and a high of $57.36 and are now at $48.11, which is 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Ctrip.com International on January 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.13. Since that recommendation, shares of Ctrip.com International have risen 12.6%. We continue to monitor CTRP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ctrip.com international

Ticker(s): CTRP