Bearish – TRIP $ 53.24 – Communications
The bearish DailyPlay we chose for Wednesday, Feb 27th is TripAdvisor (TRIP). TRIP is part of the Communications Sector (XLC). XLC has rallied 4.72% higher over the past month and its 1m trend turned bullish on Jan 30th but has failed to break above its $47 resistance level and continues to print lower highs.
TripAdvisor’s 1m and 6m trends turned bearish on Feb 20th and broke below its $55 support level which is now resistance. With a technical score of 5 (out of 10), TRIP is a neutral stock that is starting to trend lower.
As a stop loss, if TRIP was to trade above $55 for multiple days, this would invalidate our analysis and suggest getting out of the trade.