LNKD might offer a nice short entry or add-on if it trades slightly higher tomorrow and runs into these intersecting trendlines: The blue downtrend line off the highs as well as a backtest of the recently broken uptrend line. Just to reiterate, this trade is an aggressive trade and one should consider adjusting their position size accordingly if they decide to take it. Based on the trading history, expected future volatility (not always the same as past volatility) and the profit/loss potential to the expected target/stop (29%/6%), a suggested beta adjustment of 0.7 would be suggested (i..e.- 70% of one’s typical position size for a 1.0 beta position, such as the SPY or XOM). Profit target remains 127.20 with a suggested stop over 180.
