Trading Channel
Prior updates for Expedia are here, here and here.
At left, we see today’s action closed the gap and then began a potential reversal (not advice, not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
Tide, Going Out
We can almost stop there and just show the chart, but let’s at least say that earnings for EXPE are coming up early next month, link here.
The last update was here.
The wedge trendline in the long-term chart (link above) can be seen on the daily; price action’s oscillating, potentially reversing, in a throw-over (not advice, not a recommendation).
Expedia EXPE, Daily Close
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The Danger Point®, trade mark: No. 6,505,279
Wild Swings
Depending on which data platform is used, CrowdStrike’s P/E, is anywhere from -378.81, to -424.69.
That’s a negative P/E.
‘Not to worry’, as the Brits would say, CrowdStrike’s P/E has also been positive.
How about +786.1, in January of 2024, link here.
Let’s throw in Book Value of 15.03, and we have an outfit trading at 3,288% over its liquidation value.
On top of that, don’t forget the update ‘glitch’ costing customers over $5 Billion in losses, here and here.
Going on to add some intrigue, we’re coming up on the earnings release this Tuesday, after the bell.
What could possibly go wrong? 🙂
CrowdStrike CRWD, Weekly
It’s a familiar theme. One (potential) terminating wedge after another.
So far, we’ve covered CVNA, EBAY, and EXPE, in similar positions (not advice not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
‘Ending Moves’
Back in the day, Jesse Livermore nearly went bust attempting to short the downside of what became, The Panic of 1907.
Stopped out time and again, he finally (according to Wyckoff) hawked his car to rase capital.
Form nearly broke, to closing out short trades on October 24th 1907, net profit over $1-milllion.
With that, we have a strategic picture, in focus.
During a recent interview, Ed Dowd discussed the +35.95% gap (and close) on Oracle, as a result of ‘projections‘.
The take-away (from him) was these types of moves are ‘ending moves’, not the beginning of a new bull run.
Since then, price action has fully retraced.
ORCL, is currently down a whopping -41.6%, from its all-time highs. Hardly a bull market.
We’ve presented eBay in a similar position.
Carvana, launched itself above resistance at Friday’s close. In so doing, got itself into another wedge.
Now we have Expedia, looking eerily similar (not advice, not a recommendation).
Like eBay, we’ll start with the long term, quarterly chart.
Expedia EXPE, Quarterly
The latest earnings release pushed EXPE up, contacting the upper trendline.
A gap higher and close of +17.55%, in one day.
EXPE has since backed off the all-time high; currently down about -8.5%.
Edge of The Wedge
The following is a partial list of tickers either forming a (monthly) terminating wedge, or have broken out to the downside (not advice, not a recommendation)
APP, CARR, CDNS, CVNA, EBAY, EXPE, NFLX, NVDA, SPOT, TEL, UBER
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The Danger Point®, trade mark: No. 6,505,279
The Danger Point® 