Short-Sale Set Up - LNKD and TWTR
|Published:||29 May 2015 14:07 ET|
Social-networking names have remained weak even as the major market indexes have gone to new highs. We note that Twitter (TWTR) and LinkedIn (LNKD) are moving in sideways "bear flag" formations that could potentially break out to the downside. We would look for a market correction to "trigger" downside breakouts in either or both of these. TWTR appears shortable here using the 38 level as a tight stop, while LNKD would be most optimally shortable on a rally up to the 20-day moving average, currently at 205.22. However, any short in LNKD taken here could use the 200 price level, roughly the highs of its bear flag range, as a guide for an upside stop.
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