LNKD extended the decline off the triple tops at 92.61/95.00/94.32 through the support zone of 82.99/83.60, confirming the triple top reversal pattern. In the meantime, the bearish RSI divergence (formed from 92.61/95.00 highs) suggests further downside. While the tough resistance at 85.49 near the former 82.99/83.60 support caps, scope remains for bears to seek 75.37 (Support 1). Clearance below would risk an extension towards the projected triple top target at 72.20 (Support 2). A breakdown there would expose the key 70.75 reaction low (Support 3) for a retest.
It would take strength above 85.49 (Resistance 1) to negate and re-open 91.33 (Resistance 2) which guards 95.00 (Resistance 3).
Trading Indication:
Short-term: Sell at 84.10 or higher;
Target at 72.20 and lower;
Stop Loss at 85.50 (1.7.0%)
Long-term: Possibly buy lower
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