Today’s instrument is the TripAdvisor Inc. stock traded in the Nasdaq exchange under the ticker TRIP. 

If we look at the TRIP Daily chart, we can see the channel between $32 and $33 at the beginning of the week was broken from the gap up on November 5th possibly due to positive earnings anticipation scheduled for November 8th, bouncing from the $32.50 to the high of $36.50. It failed however to hold to the $37 price level yesterday dropping back down towards its support level at $34.5. Its last traded price was $34.90.

TripAdvisor Inc. had scheduled a third-quarter earnings announcement yesterday 08/11/2021. The earnings didn’t meet expectations, leading to a negative market reaction during yesterday’s session, falling from $37 to the $34.90 level.

Today we could expect a move downwards near the $34 price range as negative momentum may be in play.

If however, it manages to hold above the current price range of $34.9 then a case can be made for moving above the $35 price level.

(Click on image to enlarge)