Expedia Inc (NASDAQ: EXPE)

Expedia, Inc., together with its subsidiaries, operates as an online travel company in the United States and internationally. The company operates in two segments, Leisure and Egencia. It provides travel products and services to leisure and corporate travelers, offline retail travel agents, and travel service providers through a portfolio of brands, including Expedia.com, Hotels.com, Hotwire.com, Classic Vacations, Travelocity, Expedia Local Expert, Egencia, Expedia CruiseShipCenters, eLong, and Venere.com, as well as trivago, CarRentals.com, Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au, and Arnold Travel Technology. It facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers, as well as acts as an agent in the transaction, passing reservations booked by its travelers to the relevant travel providers.
Take a look at the 1-year chart of Expedia (NASDAQ: EXPE) below with my added notations:

Over the past year, EXPE has been trending consistently higher, while also forming a nice trend line of support (blue). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. As you can see, the market deems EXPE’s trendline to be important. If EXPE breaks its current $120 support (green) traders should expect a fall to the trendline support.

The Tale of the Tape: EXPE has a $120 support and trendline support to monitor. A long position could be entered on a pullback to the $120 level with a stop placed under it. However, a break of the $120 should lead to a fall down to the trendline support, where another long play could be made.