Expedia (EXPE) continues to climb within the Green Favored Zone of the SIA S&P 500 Index Report, moving up another 24 spots on Friday. Earlier this month, Expedia (EXPE) staged a major breakout over $90.00, which resolved a symmetrical consolidation triangle to the upside and signaled the start of a new advance. Since then, the shares have continued to climb, with breakouts over the previous high near $97.50 and the $100.00 round number confirming ongoing accumulation. Next potential resistance on trend appears near $112.50 around previous highs and the bottom of an old gap, then $125.00 where a round number and a prior peak converge. Initial support moves up toward $95.00 from $90.00.
Building on a recent bullish Spread Double Top breakout, Expedia (EXPE) broke through the $100.00 round number barrier and snapped a 45-degree downtrend line, confirming that a new uptrend is underway. Next potential upside resistance appears in the $116.00 to $120.00 range based on vertical and horizontal counts, then the $125.00 round number, and previous column highs near $130.00. Initial support appears near $91.50 based on a 3-box reversal. With a perfect SMAX score of 10, EXPE is exhibiting near-term strength across the asset classes.
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