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
- A Tale of Two Economies - It Was the Better of Times, It Was the Worst of Times | Financial Sense
- The European Central Bank Embarks on Asset Purchases | Financial Sense
- EleVader Down for Crude to the Dark Side | iBankCoin.com
- Summation Index Rate of Change | Financial Sense
- Why Amazon Is Crashing: Jeff Bezos' Nightmare Quarters In Charts | ZeroHedge
- Let Oil Be Your Guide | iBankCoin.com
- This Is Where The IMF's Christine Lagarde Is Working On Her Tan Right Now | ZeroHedge
The most relevant financial news and articles from the Internets
- The Russian Ruble Is Getting Crushed | Business Insider
- Ebola death toll rises to almost 4,900 | Business Insider
- Caterpillar Crushes Expectations And The Stock Is Going Nuts (CAT) | Business Insider
- Don't Get Used To Mobile Apps — Their Days Are Very Obviously Numbered | Business Insider
- The Genius Behind The Apple Store Wants To Help You... | Business Insider
- Morgan Spurlock's New Short Film Explains The Market Economy So Even A Caveman... | Business Insider
- People Are Beginning To Talk... | Business Insider