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Possible Bullish Inside Day Candle Pattern Detected for Expedia Inc (NASDAQ:EXPE)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Expedia Inc (NASDAQ:EXPE) based on the price action in the company's shares. Yesterday's price range of $115.73 and $116.32 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. Traders and investors interested in shares of Expedia Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Expedia Inc have traded between a low of $108.11 and a high of $139.77 and closed yesterday at $115.73, which is 7% above that low price. The 200-day and 50-day moving averages have moved 0.33% lower and 0.36% lower over the past week, respectively.

Expedia, Inc. provides branded online travel services for leisure and small business travelers. The Company offers a wide range of travel shopping and reservation services, providing real-time access to schedule, pricing, and availability information for airlines, hotels, and car rental companies.

There is potential upside of 18.6% for shares of Expedia Inc based on a current price of $115.73 and an average consensus analyst price target of $137.30. Expedia Inc shares should first meet resistance at the 50-day moving average (MA) of $122.32 and find additional resistance at the 200-day MA of $122.80.

SmarTrend recommended that its subscribers protect gains by selling shares of Expedia Inc on May 8th, 2019 by issuing a Downtrend alert when the shares were trading at $121.70. Since that call, shares of Expedia Inc have fallen 4.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle expedia inc

Ticker(s): EXPE