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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. Yesterday's price range of $30.36 and $30.36 is within the prior day'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, Tripadvisor Inc share prices have been bracketed by a low of $27.66 and a high of $60.90 and closed yesterday at $30.05, 9% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.6%.

TripAdvisor, Inc. operates as an online travel research company. The Company offers customers with travel information, reviews, and opinions of members about destinations and accommodations, including hotels, bed and breakfasts, specialty lodging, vacation rentals, restaurants, and activities. TripAdvisor serves customers worldwide.

Potential upside of 51.2% exists for Tripadvisor Inc, based on a current level of $30.05 and analysts' average consensus price target of $45.43. Tripadvisor Inc shares should first meet resistance at the 50-day moving average (MA) of $32.52 and find additional resistance at the 200-day MA of $41.88.

SmarTrend recommended that its subscribers protect gains by selling shares of Tripadvisor Inc on November 7th, 2019 by issuing a Downtrend alert when the shares were trading at $33.59. Since that call, shares of Tripadvisor Inc have fallen 9.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle tripadvisor inc

Ticker(s): TRIP