What do young people do when they don’t want to stay at home? Go to the movie? What do you do after two hours? It comes to my attention that these young people like to go to concerts- lot of them. And this is where $LYV (Live Nation Entertainment) comes in.
With more and more children come of age to become teenagers and 20+ young adults looking to get out of the house, concert businesses are expanding. You can see the trend picking on $LYV from the monthly chart below.
Keep an eye on the resistance at $16.90 – $18 level; if price action can take out these long-time resistance, price may not look back.
Needless to say, I bought some $LYV and added more today with the expectation that price action would break out of the $17 -$18 resistance. Time will tell.
My 2 cents.
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