Don't Ignore This Chart!

LinkedIn Firms at Key Level as Aroon Indicators Converge


LinkedIn (LNKD) was hit with a high volume decline on Wednesday, but managed to firm near a support zone on Thursday. Support stems from the mid August and early October lows. The indicator window shows the Aroon indicators converging below 30. This convergence suggests little directional movement over the last few weeks. The first to break above 50 will provide the next direction clue.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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