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.