Don't Ignore This Chart!

Live Nation Chart Is Like Music To My Ears

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Live Nation Entertainment (LYV) is a $5 billion consumer discretionary company that in late July reported excellent quarterly results and gapped higher to touch the 28.00 level.  The stock's all-time high came in October 2015 just beneath 30.00.  It's consolidating just above its rising 20 week EMA and volume trends have been strong.  Here's a look at the weekly chart:

Volume trends have improved, while both the MACD and SCTR are surging.  A high volume close above 28 would represent the breakout of a bullish inverse head & shoulder pattern.  Currently, LYV is consolidating in that right shoulder as both its RSI and stochastic retreat from recent overbought conditions.

Happy trading!

Tom

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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