novvoll12

CTRP $72.44 - neutral – Consolidates within a 3-month triangle

NASDAQ:CTRP   CTRIP.COM INTERNATIONAL LTD - AMERICAN DEPOSITARY SHARES
17 0 0
CTRP             peaked at 87.62 (May 26, 2015). Since then it has been consolidating within a 3-month symmetrical triangle (as shown on the weekly chart). Given the weekly MACD sloping downwards, scope remains for further range-bound price action. Only an upside break above the 80.20 area (near the triangle upper bounds) would signal return of strength towards 87.62. However, a push below 66.37 (near the triangle lower bounds) would risk further easing towards 63.00 (July 7, 2015 low) and then 58.99 (61.8% of the 40.74/87.62 rise).
Outlook:
Short term: neutral
Long term: bullish
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