LinkedIn Tests Breakout and Gap Zone
LinkedIn broke out and surged to a new high in early November, and then corrected the last five weeks with a falling channel. This channel retraced 62% of the prior surge and almost filled the gap, but didn't. Throw in support from broken resistance in the 205 area, and the stock is setting up for a potential move higher. A channel break would trigger a price signal and a bullish momentum signal would trigger if the MACD Histogram turns positive.
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