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
- Quantum Geopolitics | Financial Sense
- Key Events In The Coming Week | ZeroHedge
- Twitter Surges, Then Fades After Hours On User Growth Confusion: The Full Quarter In 6 Charts | ZeroHedge
- China and Greece Signal a New Round of Deflation | ZeroHedge
- The Turkish Enigma | Financial Sense
- Chinese Stocks Extend Friday's Losses Following Drop In Corporate Profits | ZeroHedge
- The Digital Vortex That Eats Companies | Financial Sense
The most relevant financial news and articles from the Internets
- South Africa set for long India cricket tour this year | Business Insider
- The first word ever sent on the internet was an accident | Business Insider
- These flesh-eating dinosaurs had razor-sharp teeth that... | Business Insider
- Notable... | StreetInsider.com
- Notable 52-Week Highs and... | StreetInsider.com
- Consumer confidence plunges in July | Business Insider
- The radical transformation of TV is just getting started | Business Insider