LinkedIn witnessed a bullish MACD crossover on February 25. This is the fourth bullish crossover since November, and each time it has occurred the price has made it's way to the top of its current trend channel. Currently the channel intersects near $220, providing a reasonable target based on current conditions. Overall the trend is down though, confirmed by a downward sloping trend channel and lower price highs and lower price lows, as well as the MACD being well below the zero line. If the price were to move above the recent high at $225, there is a potential case for more bullishness, but as it stands the bullish crossover likely only means a rally to the top of the channel. At the top of the channel traders can then look for bearish crossovers assuming the downtrend will continue.
