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Ctrip.com International(CTRP - Get Report) is a travel service provider for hotel accommodations, airline tickets and packaged tours in China. This stock is trading up 5.8% at $18.64 in recent trading.
Today's Volume: 8.3 million
Average Volume: 2.8 million
Volume % Change: 389%
>>9 Stocks to Buy for a European Recovery
technical perspective, CTRP is trending higher here with monster volume. This stock has been uptrending strong for the past two months, with shares soaring from $12.36 to $18.95. During that run, shares of CTRP have consistently made higher lows and higher highs, which is bullish technical price action. That move has now pushed CTRP within range of triggering a near-term breakout trade. That trade will hit once CTRP clears $18.95 to $20.25 with high volume.
Traders should now look for long-biased trades in CTRP as long as it's trending above $16.70, and then once it sustains a move or close above those breakout levels with volume that's near or above 2.8 million shares. If that breakout triggers soon, then CTRP will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $22 to $24.