Make Your Reservations: Top Trade Ideas for Week of January 18, 2011

• Posted by Greg Harmon
• on January 17th, 2011

Following on from the Top Trade Ideas here are a few more to look at tonight. I still have a few more up my sleeve for tomorrow and if the market looks ripe I will share them.

Expedia, Ticker: EXPE

Expedia broke through the 27.11 resistance level and seems primed to test the 27.66 resistance area. The Relative Strength Index (RSI) is rising steadily as is the Moving Average Convergence Divergence (MACD) indicator. Through 27.66, it has resistance at 29.50 higher.

Marriott International, Ticker: MAR

Marriott looks poised to break higher. The RSI is rising and has a lot of room to go higher. The MACD indicator is improving and about to cross higher. All of the Simple Moving Averages (SMA’s) are pointing higher. Finally the price has bounced off of support of the 50 day SMA and is now heading to the previous high from December at 42.68. If it can break above that level look for a run to a target of 47 based on a measured move comparable to the move up from mid November to the previous high.

OpenTable, Ticker: OPEN

OpenTable has been in a bull flag after a run higher. A break of the flag higher, above 82.50, would have a target of 92.00 on a measured move comparable to the move from support at the 50 day SMA to the top at 82.50.

Trade’m well. Did I mention I am taking a trip soon?

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