Stock of the day: Trip Advisor

In today’s stock of the day, let’s turn to TripAdvisor, which is currently testing a critical horizontal resistance around $18.40, marked with the upper pink line on the chart. This zone has been a decisive level for the stock, and the recent price action shows just how important it is.

On the 8th of August, the price attempted a breakout above this resistance, highlighted with green color, but the move quickly failed. Instead of holding the breakout, the stock closed with a shooting star candlestick pattern, which is a clear bearish signal and often signals a reversal. As long as TripAdvisor remains below the upper pink line, sentiment stays negative, with the next logical target sitting on the lower pink line support.

That said, there’s still room for bulls to step in. A decisive daily close above $18.40 would flip the picture entirely, canceling the bearish signal and acting as an invitation to go long. With the market currently at this tipping point, the next session or two should reveal which side is ready to take control.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-trip-advisor