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Linkined Turnaround

|Includes:LinkedIn (LNKD)

The Chart of the Day, Linkedin (NYSE:LNKD) is a turnaround situation. I found the stock by sorting today's New High list for new high frequency in the last month then used the Flipcahrt feature to review the charts. Since the Trend Spotter signaled a buy on 7/23 the stock gained 27.13%.

LNKD is an online professional network which allows members to create, manage, and share their professional identity online, build and engage with their professional network, access shared knowledge and insights, and find business opportunities. Its platform also provides members with applications and tools to search, connect, and communicate with business contacts, learn about career opportunities, join industry groups, research organizations, and share information. LinkedIn also offers services like hiring solutions, marketing solutions and other services.

(click to enlarge)Click to enlarge

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 36.73% in the last month
  • Relative Strength Index 81.93%
  • Barchart computes a technical support level at 213.45
  • Recently traded at 218.36 with a 50 day moving average of 175.06


Fundamental factors:

 

  • Market Cap $26.59 billion
  • Revenue expected to grow 42.40 this year and another 33.40% next year
  • Earnings estimated to increase by 16.10% this year, an additional 47.10% next year and continue to increase at an annual rate of 37.73% for the next 5 years
  • Wall Street analysts issued 6 strong buy, 18 buy and 12 hold recommendations on the stock

All tech stock investors should used strict technical analysis. Note caution at the 50 day moving average and bail at the 100 day moving average.

Stocks: LNKD