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Priceline Pops To New High As E-Travel Stocks Buzz

Shares of online travel sites Priceline, Expedia, Ctrip and eLong have perked up recently in the wake of estimate-beating earnings and acquisition talks. Priceline popped to a new all-time high in the stock market today after issuing view-topping second quarter results. The travel website's gross bookings rose 11% from a year ago. The stock gapped up in fast turnover to a fresh high, nearing the 1400 mark for the first time. In Tuesday's session, the stock cleared a 1264.10 buy point from a cup-with handle base. Priceline is currently trading above the 5% buy range. Peer Expedia broke out of a flat base last Friday on its quarterly report, and it has been hitting new highs every session since. Ctrip, a Chinese travel site, is working on the right side of a cup base with an 87.72 buy point. It's trading about 10% below that level. Priceline owns a stake in Ctrip, which got an offer on Tuesday from Chinese Internet giant Tencent to sell its stake in peer eLong. Expedia sold its stake in eLong to Ctrip in May. ELong is trading well off of its May peak, but it gapped up on Tuesday on the news of Tencent's buyout bid.