From the Bottom of the Deck

LinkedIn is another long candidate for a badly beaten-down snapback rally.

On the hourly chart, below, you can see the stock clearing month-long resistance after making a series of higher lows. As long as this breakout holds, a move into the $160’s is within shot.

The overall picture, though, is of a damaged former leader, which means a firm stop on weakness below the breakout point is correct to avoid getting swept up in another leg lower.

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