Expedia's One-Way Ticket Down
InTheMoneyStocks.com | Nov 08, 2017 03:26PM ET
Recently, several leading online travel sites came under pressure after reporting earnings. Expedia (NASDAQ:EXPE) started the decline in the online travel space on October 27, when its shares dropped by 18.1%. Since EXPE's earnings report, other online travel stocks like Priceline.com (NASDAQ:PCLN) and TripAdvisor (NASDAQ:TRIP) have fallen as well. Needless to say, this industry group is under pressure.
Expedia traded as high as $154.24 on October 20, 2017. On Wednesday EXPE traded around $118.24 a share. The stock is also trading below its weekly 50 moving average, which indicates weakness on the charts. Traders and investor now have to look much lower for institutional sponsorship. The next major support for Expedia is around $95, which is where it was defended back in February 2017.
Be patient with this equity as the trend is down and further declines look likely in the coming months.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.