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Fan Yang

Is Tripadvisor Inc (TRIP) Bottoming?

After a sharp rally in 2012-2013, Tripadvisor Inc. $TRIP has been on a choppy downtrend. The weekly chart below shows is falling from 111.25 down to 36 recently. 

TRIP Weekly Chart

(click to enlarge)

Double Bottom?
- Price continued to fall in 2017 but found support in the middle of the year.
- It recently tested 36 again in October, and found support there again.
- There might be a double bottom forming. 
- If there is a rally, we have to first consider the prevailing bearish trend.
- If we do, we would limit our bullish outlook first to 46, then 53.50.
- 46 is a September resistance pivot.
- 53.50 is a falling channel resistance, 100-week simple moving average, and a previous support/resistance pivot.

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