Trip Advisor: 3 consecutive higher lows, the view is bearish

Trip Advisor marked a series of 3 consecutive higher lows. Selling opportunity below 61.12, targets minor support at 60.40.

On the 16/09/2016 Trip Advisor close was at 61.29 (-0.86%). Marked a series of 3 consecutive higher lows. For intraday trading session the technical view is negative and leaves assume the down-trend continuation. However, we can’t exclude rebounds towards the most significant resistance levels. The major oscillators confirm the downward trend.
trip advisor

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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 61.82). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 16/09/2016.

Performance: 7 trading days= -0.05% – 15 trading days= -0.49% – 30 trading days= -7.01%

Resistance levels: R1= 61.85 – R2= 62.41 – R3= 63.65
Pivot Point: 61.17
Support levels: S1= 60.61 – S2= 59.93 – S3= 58.69


Buying opportunity above 61.60, targets minor resistance at 62.34 and perhaps as far as strong resistance at 62.87, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 64.21.

Selling opportunity below 61.12, targets minor support at 60.40 and perhaps as far as strong support at 59.87, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 58.53.