Expedia May Be OversoldExpedia hit a new multiyear high last month, and now it’s pulled back.
The first pattern on today’s chart is $168.45. It was the low on November 6, one day after the Presidential election. EXPE has held the level since last Thursday, which may suggest it’s become new support.
Second, the 50-day simple moving average (SMA) crossed above the 100-day SMA in August and the 200-day SMA in October. The 100-day SMA then moved above the 200-day SMA. The resulting sequence, with faster SMAs above the slower ones, is potentially consistent with an uptrend. (See the yellow arrows.)
Next, stochastics have dipped to an oversold condition.
Finally, bullish gaps after the last two quarterly reports may reflect improving fundamentals in the travel stock.
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