Liberty Interactive Corporation, through its subsidiaries, is engaged
in the video and on-line commerce industries in North America, Europe,
and Asia. The company markets and sells various consumer products
primarily through live televised shopping programs, and Websites and
other interactive media, including QVC.com. It also operates Websites
offering sports gear and clothing for outdoor and active individuals in
various categories; sports nutrition, body building, and fitness
products; costumes, accessories, décor, party supplies, and invitations;
and perishable goods, including flowers, fruits, and desserts, as well
as personalized gifts. In addition, Liberty Interactive Corporation
provides online travel services under the TripAdvisor and daodao.com
brands.
Take a look at the 1-year chart of Liberty (Nasdaq: LINTA) with my added notations:
LINTA has been trading mostly sideways for the last 5 months. Over
that period of time the stock has formed a clear resistance level at $30
(red). In addition, the stock has also created a strong level of
support at $28 (blue). At some point the stock will have to break one of
the two levels that the sideways consolidation has created.
The Tale of the Tape: LINTA has clear levels of
support ($28) and resistance ($30). The possible long positions on the
stock would be either on a pullback to $28, or on a breakout above $30.
The ideal short opportunity would be on a break below $28.
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