Stock of the day: TripAdvisor

In today’s Stock of the Day, we return to TripAdvisor, which has recently shown a very interesting and technically promising development. We previously analyzed this stock on the 29th of April, at which point the price was sitting just below a key horizontal resistance marked with a blue zone. Back then, the price had not yet broken above, but we highlighted the rising pressure on that resistance and pointed to a potential breakout and subsequent buy signal.

That exact scenario played out a few days later. The price broke above the blue resistance and did so with strong momentum, giving us a clear technical buy signal. The breakout was clean and followed by a decisive upward movement, validating the bullish setup.

After the breakout, the price continued to climb and eventually reached the next key technical obstacle: a black downtrend line, which has been guiding price lower over the mid-term. This trendline is now acting as a critical resistance. In the last session, we saw the price bounce off this resistance, suggesting that sellers are still active at this level.

However, the overall bullish momentum remains intact, and considering the strength of the previous breakout, a break above this black downtrend line seems not only possible, but likely. A daily close above this trendline would mark a second major technical signal, confirming a long-term buy scenario for TripAdvisor.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-tripadvisor-2