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- 1 EXPE stock price slipped below the round mark of $100.
- 2 Buyers were in trouble and are trying to retain the 20 day EMA mark.
Expedia Group Inc. (NASDAQ: EXPE) EXPE stock broke down below the crucial support zone of $100 indicating bearish dominance. From the last quarter (Q2), EXPE stock was struggling to fill the gap near $115, but failing to do so and showed a sharp rejection from the trajectory resistance of $110. Thereafter, EXPE stock faced selling pressure and violated the round mark of $100.
EXPE stock price is below the significant moving averages and witnessed a breakdown in the past trading sessions. However, a bullish engulfing candlestick was formed near the bottom of $95 and a pullback was noted in the last session. Per the options chain, at the strike price of $98, open interest of 200 hundred shares on the put side, whereas on the call side, there were 158 hundred shares, which indicates that a meaningful recovery can be anticipated based on the long positions.
At press time, EXPE stock price was $97.29 with an intraday gain of 2.16% showing a pullback in the yesterday’s trading session. Moreover, the trading volume increased by 0.55% to 1.56 Million while the market cap is $14.411 Billion. However, analysts have maintained a buy rating with a yearly target price of $124.47 suggesting a growth outlook for the next sessions.
Expedia Group, Inc. is an online travel company, which engages in the provision of travel products and services to leisure and corporate travelers. It operates through the following segments: Retail, B2B, and Trivago. The Retail segment provides a full range of travel and advertising services to worldwide customers through a variety of consumer brands including: Expedia.com and Hotels.com. The B2B segment offers Expedia business services organization including Expedia Partner Solutions and Egencia.
Will EXPE Retain $100 or Extend Fall Toward $80?
On the daily charts, EXPE stock price showed a retracement and has corrected from the highs of $130 and has broken the crucial support zone of $100. Furthermore, the price action shows the long unwinding which shows that bulls were in trouble and tried to cover their long positions by initiating a pullback which was showcased on the charts. Additionally, if EXPE sustains above $100, rebound may extend toward the resistance zone of $110. Moreover, EXPE stock has slipped below the 38.2% fib zone and is heading toward the 23.6% zone which exists near $90.
The RSI curve is below neutrality and formed a negative crossover highlighting bearishness. The MACD indicator showed a bearish crossover and formed red bars on the histogram suggesting a negative outlook for the upcoming sessions.
Summary
Expedia Group Inc. (NASDAQ: EXPE) EXPE stock price slipped below the crucial support zone of $100 and is struggling to hold the gains. However, a bullish engulfing candlestick was formed near the bottom of $95. Thereafter follow on buying interest was witnessed in the yesterday’s trading session. Furthermore, there is a challenge for the bulls to surpass $100 where bears have made a strong grip in the past sessions.
Technical Levels
Support Levels: $92 and $88
Resistance Levels: $100 and $110
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
