Betting on open economy stocks, or, touristic stocks $TRIP
TripAdvisor
TRIP
is one of my favorite stocks to have on an open and normal economy again. Today is only $26 and its all time high is $110, is a leader in its industry and the technicals are looking pretty good right now.
Only in November went up +60% and rebounded from a strong resistance in $31.50, now after this recent correction is testing a support in $26.80 just below its 20 day MA. The selling volume this week hasn't been that great so could be a good buying zone, but if it fails to rebound from here it could do it from the next support in $24.40. Either way, a good thing would be to buy today and wait, if it goes down and tests de next support buy again depending on the volume levels. This way you could have a good strategy against the high volatility of this stock. Remember to always use stop-loss, I personally use Average True Range (ATR) to calculate it.
TRIP
is one of my favorite stocks to have on an open and normal economy again. Today is only $26 and its all time high is $110, is a leader in its industry and the technicals are looking pretty good right now. Only in November went up +60% and rebounded from a strong resistance in $31.50, now after this recent correction is testing a support in $26.80 just below its 20 day MA. The selling volume this week hasn't been that great so could be a good buying zone, but if it fails to rebound from here it could do it from the next support in $24.40. Either way, a good thing would be to buy today and wait, if it goes down and tests de next support buy again depending on the volume levels. This way you could have a good strategy against the high volatility of this stock. Remember to always use stop-loss, I personally use Average True Range (ATR) to calculate it.
Trade active:
Strong rally for $TRIP, I just raised my stop loss to break even. No more risk for this one.