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Chinese ADR reasserts outperformance

|Includes:Ctrip.com International, Ltd. (CTRP)
Ctrip.com (NASDAQ:CTRP), a Chinese ADR, is attempting to reassert its primary uptrend following a sideways consolidation for the past six months.
 
Momentum conditions are not overbought and a break above resistance at $50 is expected over the next few weeks. Beyond that, it should run up to the 2010 high of $54.25, also the all-time high.
 
The point and figure relative chart is also firming, reasserting its uptrend relative to the S&P 500.
 
We view the Chinese online travel services provider as a buy. Bullish view negated on a break beneath $36.





 
Stocks: CTRP