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LinkedIn Approaches Top End Of Trading Range

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LinkedIn Corp LNKD 2.99% shares are trading higher by $3.60 at $120.92 in Thursday's session. The all-but-forgotten social media issue has been out of the market spotlight since its $80+ drubbing ($192.26 to $108.38) when the company beat for Q4 but guided lower for Q1.

On that disastrous day it peaked at $128.98, but swooned under $100 and not bottoming until it put in a series of lows around the $99 area, with the eventual low being $98.25.

However, since February 18, it has been in a trading range. The end of the range has been defined from $106-$108 on the downside and $121.50-$122.50 on the upside.

Now with its Q1 report (with lowered expectations) one week away, the issue is approaching the upper end of the trading range with the current high standing at $121.96.

If the issue can ever clear $128.98, there is a void in trading up until the low from the day before its Q4 report at $186.18.

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