$LNKD Falls On UnFriendly Charts

$LNKD hit a seven-month low intra day as investors turned away from an ugly chart. It fell more than 3% by mid-day, despite a lack of obvious negative news.

The bad news came last week for LinkedIn. On. Feb 6, the company reported fourth quarter EPS of $0.39, excluding special items such as stock-based compensation. That missed Wall Street consensus estimates by about a penny, according to the Analyst Ratings Network. Far worse, the GAAP EPS fell to $0.03, less than a third of the GAAP EPS for the same period in 2012. The stock fell more than 6% in the following 24 hours.

Analysts kept the hits to the stock coming. Seventeen firms lowered price targets for the stock the following morning. Then Forbes reported yesterday that Linkedin users were leaving due to anger about how it handles posts flagged by moderators.( http://tinyurl.com/kgzl6n4)

Last week’s bad news barrage pushed the stock past what many traders saw as key $200 support level today.

BeckyHiu

Feb. 12 at 12:13 PM

“@RiskReversal: Chart of the Day – Invitation to Correct on $LNKD http://stks.co/d0DdF @EnisTaner” <-- ooh, 125 possible? Hehe.

Now some traders say all bullish bets are off for the stock. It is no longer on an upswing.

traderdublin

Feb. 12 at 12:28 PM

$LNKD broke it’s 12 month uptrend today!

Some cashtaggers believe the stock could drop another 8% to $180 per share before support levels return. That’s below the bottom-end of analysts’ revised Jan. 7 price targets.

Trading_Guy

Feb. 12 at 12:10 PM

$LNKD … man she has a big drop to come until any support comes into play

Tickers: $LNKD


blog comments powered by Disqus
StockTwits Blog
  • StockTwits® is an open, community-powered idea and information service for investments. Users can eavesdrop on traders and investors, or contribute to the conversation and build their reputation as savvy market wizards. The service takes financial related data and structures it by stock, user, reputation, etc. More »

  • Search by Date

  • Join StockTwits