Trip.com Group Ltd stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Dec 01, 2022)
The Trip.com Group Ltd stock price gained 0.189% on the last trading day (Thursday, 1st Dec 2022), rising from $31.67 to $31.73. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.93% from a day low at $30.56 to a day high of $31.76. The price has risen in 6 of the last 10 days and is up by 9.39% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 4 million shares were bought and sold for approximately $139.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $31.75 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.96% during the next 3 months and, with a 90% probability hold a price between $23.08 and $34.28 at the end of this 3-month period.
TCOM Signals & Forecast
The Trip.com Group Ltd stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $28.67 and $26.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 24, 2022, and so far it has risen 55.84%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Trip.com Group Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $29.22 and $28.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Trip.com Group Ltd finds support just below today's level at $29.22. If this is broken, then the next support from accumulated volume will be at $28.00 and $26.60.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.20 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 4.51%.
Our recommended stop-loss: $30.72 (-3.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (TCOM) For The Upcoming Trading Day Of Friday 2nd
For the upcoming trading day on Friday, 2nd we expect Trip.com Group Ltd to open at $31.35, and during the day (based on 14 day Average True Range), to move between $29.96 and $33.50, which gives a possible trading interval of +/-$1.77 (+/-5.58%) up or down from last closing price. If Trip.com Group Ltd takes out the full calculated possible swing range there will be an estimated 11.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.51 (7.91%) our system find the risk reward attractive.
Is Trip.com Group Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Trip.com Group Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.001 Open Broker AccountBuy Candidate Downgraded
Predicted Opening Price for Trip.com Group Ltd of Friday, December 2, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 2, 2022||Current price|
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About Trip.com Group Ltd
Trip.com Group Limited operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air a... TCOM Profile
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