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Priceline Finds Resistance After Rallying Off Solid Expedia Results

By Insider Scoop
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Courtesy of Benzinga.

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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Priceline Group Inc (NASDAQ: PCLN) shares were trading higher by $14.19 at $1,252 in Friday’s session. The catalyst for the rally may be the solid results released from Expedia Inc (NASDAQ: EXPE) on Thursday. Investors may be looking for similar results from Priceline when it reports Q1 earnings on May 5.

Interestingly, the rally has stalled at resistance in the same area as it had in the last two trading sessions. On Wednesday, it peaked at $1,255.33 and on Thursday peaked at $1,255.27; in today’s session, the rally stalled at $1,254.83. A large player may have identified the $1,255 as a place to exit the issue ahead of next week’s earnings report.

Posted-In: Pre-market outlookTechnicals Intraday Update Movers Trading Ideas

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