Pocket Pivot Review - LN 8-22-16
Japanese provider of a leading mobile networking platform LN is pulling back toward its 10-day moving average on a volume dry up (VDU) pattern. LN had an extended pocket pivot on 8-12 then launched to new highs on a U-turn pattern. It has since been in the process of digesting those gains. Buying closer to its 10-day line reduces risk. Earnings and sales are skyrocketing, group rank 11.
Keep in mind this is an IPO thus subject to greater than normal volatility so handle with care.
We are long a position in LN.
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