LinkedIn and Tesla Go their Separate Ways

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com



There was a time when LinkedIn (LNKD) and Tesla (TSLA) were joined at the hip and led the momentum crowd. Both stocks surged from January to September and then corrected from early October to mid November. This relationship appears to be changing as Tesla sank to new lows for the month and LinkedIn rebounded with a strong surge. Notice how Tesla broke down in early November, consolidated with a pennant and broke pennant support with a sharp decline the last three days. In contrast, LinkedIn formed a bullish engulfing last week and followed up with a surge above 230.

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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