LinkedIn on the verge…..

It was 4 weeks ago, when we wrote about LinkedIn(LNKD) after it's steller earnings report. Since then the stock has traded in a range from $84 to $96. It closed at 90.67 today, and we think this is the week it breaks and holds above $100. Why? Well there are many reasons. First and foremost, the chart gives hints of an impending breakout. The Bollinger Bands are getting very tight. Also, look at the higher volume since Feb 13th. Looks like sellers are being churned through, and once those are gone, we can really start to move.

Winning in the options market is all about finding the stocks before they make a big move. Finding a cold stock before it's hot, or has news. It's also about finding past trends, as history tends to repeat itself. LinkedIn(LNKD) has had many volatile breakout moves(up and down) since it's IPO last year.

Will this be the week LinkedIn(LNKD) breaks out of it's trading channel, and takes on another digit? We think so and have positioned ourselves with $95, $97.50, and $100 March 17th calls.

Will we be right again like we were with WYNN,  PriceLine(PCLN), SodaStream(SODA), Fossil(FOSL), and many others so far in 2012?

I guess we will find out soon enough.

Profile photo of jimmybobJimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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5 thoughts on “LinkedIn on the verge…..”

  1. I think chart is saying I want to fill the gap in 70 area I left behind.
    That what makes the market. Although today can be breakout day also.
    If it makes new high then we can have run up.

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