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
- 2016 Debate Preparation Begins | ZeroHedge
- NY Fed Slashes GDP Forecast, Now Sees Weakest Growth Since Financial Crisis | ZeroHedge
- Hillary Emailgate: How One Twitter User Proved The "Intent" That The FBI Missed After Months "Investigating" | ZeroHedge
- America's 24/7 Circus Maximus | ZeroHedge
- Loss of FBI Reputation Irredeemable: James Comey Will Resign | ZeroHedge
- "Don't Rush To Judgment!!" | ZeroHedge
- If You're A Kid Living In New Orleans, Move To Salt Lake City! | ZeroHedge
The most relevant financial news and articles from the Internets
- Access an exclusive BI Intelligence report for FREE today | Business Insider
- The one shoe every guy needs to add to his closet this fall | Business Insider
- A Mexican oil tanker went up in flames on... | Business Insider
- Ocean City, Md.: America's Most Affordable Fun City | BusinessWeek
- Where Hillary Clinton and Donald Trump stand on... | Business Insider
- There are 6 everyday factors stressing you out more than anything else | Business Insider
- THE US DIGITAL MEDIA AD REVENUE... | Business Insider