Is Orbitz Worldwide Topped Out?

Loading...
Loading...
Shares of Orbitz Worldwide
OWW
are trading lower on the session by 4.68%, trading at $4.07. The stock has rocketing higher over the past two months, touching an intra-day high yesterday of $4.49. With shares trading through yesterday's low, you have to wonder if the stock is topped out here. Even within an overall bull pattern, shares could easily retrace back to the 20-day or 50-day, around $3.60 and $3.10, respectively. That would be a large percentage loss from these levels. If you are a long in the name you should consider selling all or some of your position here. Another option would be to buy the Jan2012 $5.00 for $1.00-1.05, which you could hold and then trade out of as shares consolidate lower. Something to keep in mind is the minimal short interest (2.32%). This indicates that when the long-only trade dries up, there will be minimal support (outside of established support levels) through covering. Orbitz Worldwide, Inc. is a global online travel company that uses technology to enable leisure and business travelers to search for and book a range of travel products and services.
Posted In: Small Cap AnalysisTechnicalsOptionsMarketsTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...