Redburn Touts Double In Priceline Over The Next Three Years

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

The Priceline Group Inc.

shares are trading lower by $8 at $1232.37 in Friday's session. Despite a ringing endorsement from Redburn, who calculates the upside in the issue as much as 100 percent on a three year view, the issue is following the broad market lower. The issue, which has had a muted recovery from it s mini-flash crash low ($1151.01) low peaked with a double top from last Friday's session high ($1164.52) and Monday's high ($1264.98). After a sharply lower open ($1224.17 vs. Thursday's close of $1240.37), it continued to decline until it found support at $1222.15. Since making that low, it has rebounded and found resistance just above Thursday's low ($1236.30), reaching 1236.60 before falling back to its current level.