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Tripadvisor Sharply Resolves 5 Days Of Consolidation To The Downside

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Tripadvisor Inc (NASDAQ: TRIP) shares are trading lower by $3.80 (8.7 percent) at $40.57 in Monday's session. There is no specific news out on the stock to account for the decline.

Instead the move is a resolution to a week of muted price action. Over the five previous sessions, Tripadvisor has traded in a small range from $43.25-$44.81. When the lower-end of the trading range gave way shortly after Monday's open, sellers flooded the stock.

The ensuing decline took Tripadvisor to $40.35 as of 11:33 a.m. EST and it's attempting to stabilize. If the decline continues beyond the current low, there may be additional support at its August 21 low ($39.79).

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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