Tripadvisor Stock Breaks The Downside Line. Will It Go Higher?

The technical picture of the Tripadvisor Inc Common Stock (NASDAQ: TRIP) on our daily chart shows that in the past few days, the stock picked up some buying interest, forcing the share price to rise above its short-term downside resistance line taken from the high of March 15^th. However, TRIP still remains below one of its EMAs and our oscillators had only recently showed signs of bottoming, but have not yet moved into positive price momentum territory. For now, we will take a cautiously-bullish approach.

Although there are indications that a further move higher could be possible, at least in the near term, we would still prefer to wait for a pop above the 46.04 barrier, marked near the highs of May 10^th and 11^th. If such a move happens, the stock could then travel to the 49.47 obstacle, a break of which might set the stage for a push towards the 54.20 level. That level marks the high of April 19^th.

As mentioned above, the RSI and the MACD, although they had moved a bit higher, are still in negative price momentum territory. The RSI remains slightly below 50 and the MACD sits below zero, but had recently jumped above its trigger line. The current picture on our oscillators supports the idea of waiting for a break above the 46.04 barrier, before aiming further north.

Alternatively, if the share price falls all the way below May’s low, at 39.07, this might spook new buyers from entering for a while, as the stock would confirm a forthcoming lower low. TRIP may then slide to the 35.90 hurdle, marked by the high of January 27^th and the low of February 10^th, where the share price could stall for a moment. That said, if there are still no new buyers in sight around that price, TRIP might end up falling all the way to the 30.98 level. That level marks the low of January 29^th.

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