Expedite the Expedia Breakout

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The futures are indicating a weak open at the time of this writing, but if we see a gap down that is bought on Monday, then I think Expedia is a name to have high up on your watchlist. As you can see on the daily chart below, the stock filled the huge void left from the February gap down. Since making that March low, the stock has respected its rising support trendline, making a series of higher lows, all the while knocking on the door for a major breakout above $26. In other words, what we have here is a bullish ascending triangle, with pressure being placed on the bears with each higher low the stock makes. If the now highly anticipated broad market correction does not materialize soon, then EXPE looks as set up as virtually any stock out there to make a move higher.

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