LinkedIn – Healthy Looking Chart

In LinkedIn (LNKD, $205) I have seen a healthy cluster of Fibonacci timing cycles that came due 3/17 – 3/20 for a possible low.  This just happened to coincide with a test of key price support at the $189.53 – $191.98 area.

cb lnkddaily
We have already seen buy triggers in LNKD and it’s up ~1.4% today.   I want to buy a pullback in this one with the $224.74 area as my initial upside target for the trade.

Strategy:  I’m looking at buying the April (4/17) 205 – 215 call vertical spread for under $4.00, or if you went with the April Extended Weeklys expiring a week later on 4/25, maybe the 205 – 220 vertical spread for less than $4.40.

I will consider myself “wrong” the trade if the 3/17 low is violated.