LinkedIn: The Uncommon Trendline We're Watching
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To revisit our Oct. 2 comments on LNKD, click over to LinkedIn Looks to Challenge Looming Resistance.
Nice looking bullish reversal candle yesterday. Some decent volume to boot. Suggests that yesterday's dip and buying could be a tradable bottom.
LNKD also formed a Bullish Hammer Candlestick yesterday. This comes one day after an Inverted Bullish Hammer Candlestick. This is a good indication that bulls are starting to regain footing after the recent decline.
In addition to support levels discussed, the combination of these two potential bullish candlesticks could bode well for the stock going forward.
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