LNKD 5 Year Chart Elliott Wave Long Term Forecast

 

nov14lnkd

This is the long term forecast of LinkedIn.com (LNKD) based on the 5 year candlestick chart.

Best case scenario:  First wave was either 0 to 258 or 58 to 258, Wave 2 was the impulsive drop from 258 to 138, B wave of the W2 was the move from 138 to 278, C wave was the zigza drop to 162 and the recent breakaway gap was the start of a pretty huge Wave 3.  Highest target if Wave 1 was 0 to 258 would be as high as 500-520 on a 1.618 breakaway move, or conservatively as high as 420-440 on a 1.618 move based on the 58 to 258 first wave.  It needs to hold gap support at 218, and if it does and it clears 278, we could see it double from here.

Worst case scenario:  Gap fills at 218 and below and the ABC flat fails breaking 786 support at 200 to restest the A wave low set at 138.

Where I’m leaning: 85% chance it’s entered the big wave 3 to either the 420-440 target or the 500-520 target.  That would be Wave 1, Wave 2, ABC flat into a 1.00 breakaway gap Wave 3.

LNKD 5 Year Chart Elliott Wave Long Term Forecast on November 14, 2015 rated 5.0 of 5

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