LinnCo LLC (NASDAQ: LNCO)

LinnCo, LLC, through its limited liability company interests in Linn Energy, LLC, focuses on the acquisition and development of oil and natural gas properties in the United States. The company was founded in 2012 and is headquartered in Houston, Texas.
Take a look at the 1-year chart of LinnCo (Nasdaq: LNCO) with the added notations

Over the last 2 months, LNCO has been consolidating within a couple of short-term price levels. First, the stock has formed a clear support level at $20 (red). Next, the stock has also been forming a down trending resistance level (blue). These two levels combined have LNCO stuck within a common chart pattern known as a descending triangle that will eventually have to break one way or another.

The Tale of the Tape: LNCO is currently trading within a descending triangle. A long trade could be made on a break above the down trending resistance or a pullback to the $20 support. A short trade could be placed on LNCO if the stock breaks below the $20 support level.
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