Shares of TripAdvisor (TRIP) - Get Report finished Tuesday with a 3.8% gain with the help of a healthy jump in volume. This powerful surge put the stock in the No. 2 spot on the Nasdaq 100 gainers list. It was TripAdvisor's sixth straight gain after testing a major support zone last week.

For patient investors, the stock appears to be setting up for a fresh bull run and should be considered a buy on weakness.

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TripAdvisor began 2016 with a total collapse. A little over five weeks after the opening bell on Jan. 4, the stock was down over 35%. TripAdvisor managed an immediate and sharp bounce after reaching the $53.50 area on Feb. 9 before entering the seven-month consolidation that is still in play.

During this phase, the stock's upside has been well-contained by the 200-day moving average while the area near $60 has supplied extremely solid support. Monthly lows from March, April, May and now September held this zone. Two even more impressive holds came during the Brexit flush in June and the post-earnings selloff in early August. Despite getting hit with a powerful selling wave on Aug. 4, the heaviest downside volume day of 2016, TripAdvisor remained above the Brexit low.

After piercing the $60 area last week, TripAdvisor once again attracted buyers. Following yesterday's gain, the stock is now up over 7.5% from the lows of last week. This is the longest rally streak for the stock all year. In the near term, TripAdvisor investors should view shares as a low-risk buy between $64 and $62. This key zone includes the initial September high as well as last week's peak.

On the downside, a close back below $61 would indicate a fresh rally leg is on hold. On the upside, a big challenge will be the declining 200-day moving average near $66.50. TripAdvisor has struggled with this level before, but with increasing pressure on the bears (TripAdvisor's short interest ratio is over 9), there may be enough extra fuel in the tank to drive it past.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.