Monday, July 28, 2014

Liberty Interactive Corp (NASDAQ: LINTA)

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:
1-year chart of Liberty (Nasdaq: LINTA)
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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