LinkedIn Shareholders: Look out Below
LinkedIn Corp (LNKD) shares are trading at $179.97, just 3% from its 12 month high. The good times can't keep going forever on this Facebook for 'Professionals'.
Classic Head and Shoulders pattern as the chart shows below. What in the hell are we talking about?On the technical analysis chart, the Head and Shoulders formation occurs when a price trend is in the process of reversal either from a bullish or bearish trend; a characteristic pattern takes shape and is recognized as reversal formation.
LinkedIn has gone on a tear in 2013, YTD the stock is up 56%. Thanks to that massive increase LinkedIn's market cap is now $19.6 billion. If only they were worth $22.5 billion which is how much market cap Apple lost today (check out Stocks Suck even Apple).
If LinkedIN breaks down, the next stop will be the 50 day MA, which is currently just below the $170 level. Depending on Market conditions and its earnings report on May 1st, LNKD could freefall all the way down to the 200 day MA, which is $125 a share. It will be interesting to see how this plays out.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Why Not Replace Bureaucrats with Robots? | Financial Sense
- America Is No Longer Top Dog: Chinese Military "Reaching Near-Parity" With The West | ZeroHedge
- North Korea's Regime In Jeopardy After China Bans All Coal Imports | ZeroHedge
- "There's Something Weird Going On": Jeff Snider On The Global Dollar Shortage | ZeroHedge
- Democracy: The God That's Failing | ZeroHedge
- What Is Good for the Dollar Is Bad for Gold | Financial Sense
- Infographic: Bullion Banking Mechanics | ZeroHedge
The most relevant financial news and articles from the Internets
- The Kremlin dismissed a New York Times report on a secret... | Business Insider
- Architect Richard Landry shares 6 of his favorite... | Business Insider
- Watch a US-led airstrike knock an ISIS vehicle off the road near the... | Business Insider
- You can’t understand the Fintech Revolution... | Business Insider
- Mike Pence says he was 'disappointed' that Michael... | Business Insider
- America's affordable housing crisis has reached a new... | Business Insider
- This is the future of financial advice | Business Insider