EXPE is currently demonstrating a bull-flag chart pattern
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Travel booking agency Expedia Group (NASDAQ:EXPE) has been an outperformer on a six-month, year-to-date, and year-over-year basis. In fact, the latter-most year-over-year level has seen consolidation around the 200% mark. Expedia also broke above the $20 billion market-cap level for the first time this year.
The equity is also experiencing a bull-flag pattern, as its 40-day moving ascends and has captured pullbacks as recently as April 20. The 80-day trendline has been a significant source of support in the past as well, with both moving averages guiding EXPE to its latest round of fresh record highs, just shy of $190. Historically, the travel giant is an outperformer between the months of April and October, with data from the past 12 years showing an average growth of 20.4%, with an 89% win rate.
Digging deeper, in the options pits there looks to be plenty of room for improvement. This is per the stock’s 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 86th percentile of its annual range. Should these bearish bets begin to unwind, it could catapult the equity to another round of all-time highs.
Meanwhile, short interest has been on the rise, up nearly 10% during the past two reporting periods. The nearly 14 million shares sold short account for 10.2% of the stock’s total available float, or just over four days’ worth of pent-up buying power. Even further, a fresh round of upgrades is well overdue, as 12 of the 22 analysts in coverage sport a tepid "hold" recommendation on the security.