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Possible Bearish Inside Day Candle Pattern Detected for Tripadvisor Inc (NASDAQ:TRIP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tripadvisor Inc (NASDAQ:TRIP) based on the price action in the company's shares. Today's price range of $41.52 and $42.58 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 Tripadvisor Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Tripadvisor Inc have traded between a low of $35.41 and a high of $69.00 and are now at $41.72, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.5%.

Potential upside of 8.9% exists for Tripadvisor Inc, based on a current level of $41.72 and analysts' average consensus price target of $45.43. The stock should find initial resistance at its 50-day moving average (MA) of $42.45 and further resistance at its 200-day MA of $50.51.

TripAdvisor Inc. is an online travel research company. The Company's travel research platform aggregates reviews and opinions of members about destinations, accommodations (including hotels, bed and breakfasts (""B&Bs""), specialty lodging and vacation rentals), restaurants and activities throughout the world.

SmarTrend is monitoring the recent change of momentum in Tripadvisor Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tripadvisor Inc in search of a potential trend change.

Keywords: bearish inside day candle tripadvisor inc

Ticker(s): TRIP