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
- Green in a Sea of Red | iBankCoin.com
- ISIS Slams "Mule Of The Jews" Obama, Demands Killing Of "Disbelievers" Especially "Filthy French" | ZeroHedge
- On The Breakdown Of Nations | ZeroHedge
- How Does the Stock Market Perform During Rate Hikes? | Financial Sense
- The Fallacy Of US Dollar "Strength" | ZeroHedge
- What Iraq Thinks: "It Is Obvious To Everyone That ISIS Is A Creation Of The United States And Israel" | ZeroHedge
- USDJPY Opens At 6-Year Highs, Extreme 'Relative Strength' Signals 30% Drop Potential | ZeroHedge
The most relevant financial news and articles from the Internets
- Everything We Know About The Mysterious Fake Cell Towers Across The US That Could Be... | Business Insider
- Ex-Cisco Engineer Admits To Murder In A Case Focused On A Damning... | Business Insider
- Putin Is Getting Most Of What He Wants In Ukraine | Business Insider
- 11 Reasons People Are Obsessed With Shake Shack | Business Insider
- 88 Quotes On Success From The World’s Most Accomplished People | Business Insider
- Thousands of Hong Kong students on strike for democracy | Business Insider
- Yemen deal signed after Shiite rebels seize govt, PM quits... | Business Insider