On the hour chart the trend started on August 28 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 16.83
But we should not forget about SL = 15.18
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelieveInTrading
If you're looking for a growth stock to add to your portfolio, you may want to consider TripAdvisor (NASDAQ: TRIP). The online travel company has seen its stock price nearly lose 50% of its value in the past year and is currently trading at all-time lows with a strong weekly demand level in control. The imbalance is trading at HKEX:18 per share. This demand...
Trend is evidently down as shown by the large channel drawn
Buying the trend is my best advice as this chart is definitely quite bearish
Arrows illuminate the downward moves
Whats The Plan/Trade/Thought
It looks like in the short term traders will be more concerned about interest rates and the impact it will have. The sentiment now seems to be that recession will be a soft landing. I think we need to trade on this optimism at least for the next month.
Lets look at categories with strong fundamentals where money might flow into...
Tripadvisor is extremely overbought along with the whole market. A healthy pullback should happen regardless of the status of flights in the future. Earnings should also bring this stock back to reality.
BUY : 28-29$
SELL : 32$ (LOCK IN SOME PROFITS AND KEEP IT RUNNING)
SL : 27,5$
PROS : Major demand-support, omicron manageable, moving into spring-->more travelling.
RISKS : New variant, oil price increasing a lot.
TRIP
STRONG BUY opportunity.
Possible Scenario: LONG
Evidence: Price Action, Options flow, Break out possibility
Call options strike 31$, 03/18/22
*This is my idea and could be wrong 100%
Trendline Break
At Resistance Zone
Short Entry 35
Stop 39.6
Target 25
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
She's coming down now but this looks like a re-test of the accumulation zone. Over-sold now since breaking down from $39.00. I think this one is ripe for the picking. I'll put my head on the block here and say, anything between between $32.50 and $33.20 is a buy. You heard it here first. Have a nice trip.
LONG-TERM: Double bottomed at the PCZ of an informal bullish bat (shallow D point), broke over a supply line and historical resistance, with triple classic bullish divergence on the daily. (not financial advice)
Due to pandemic travel industry has been severely hit but now with opening of economy and lesser travel restrictions, #TRIP is gaining some interest from smart money and it seems smart money has been taking positions slowly. Buy #TRIP at current prices with SL 28 for targets much higher 100+ with in next 1-2 years.
Disclaimer :
Trading is never ever recommended...
