Monday, January 20, 2014

Stock Watch - 1/20/2014

Here are a few social media/web base stocks to watch for possible breakout: TWTR, LNKD, ANGI, & TRLA.

TWTR:

It appears to have established a rising trend line support and breaking out of the resistance from a declining trend line. If this move is to be continued, it might not encounter strong resistance until it reaches the price gap near 70.



LNKD:

LNKD has printed an inside bar candle from the last trading session. If it can move above the engulfing candle’s high near 234.50, then the potential price target could be the recent new high near 256.



ANGI:

It is setting up to break above the resistance near 15.50. If it can break above this baseline, then the price gap near 18.50 to 20.50 could be the price target.



TRLA:

It seems to have found support near 28 and currently consolidating near the 38-39 level. If it can break above the resistance near 40.10, then the next pivot high could potentially be the next price target.



Disclosure: Long TWTR & ANGI.



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