Liberty Interactive Corp: Strong Bull This Year
Liberty Interactive Corporation owns interests in subsidiaries and other companies that are primarily engaged in the video and digital commerce industries. Those interests are attributed to two tracking stock groups: the QVC Group and the Liberty Ventures Group. Liberty Interactive Corp. shares are traded on the NASDAQ exchange. The asset's symbol is NASDAQ:LVNTA.
During the recent few months this stock finished its 2-year correction of the long term uptrend, and right now it's making a new all-time-high. What's going to happen next? Look at my monthly chart.
Resistance arc is not valid anymore
As you can see on the chart, the arc which acted as a resistance, is now below the price, so it can be considered broken and not valid anymore. This means we can expect an uptrend continuation in the next few years. Also I have drawn another arc, the green one, which should act as a support for the price. It can be used as a sell signal in case of breakdown.
Elliott Wave and RSI angle
The recent correction was just a 2nd wave according to the Elliott Wave rules, and right now a motive wave 3 is beginning. RSI angle, which is shown on the chart, acted as a resistance since the year 2014, and now it's also broken. This indicates the trend reversal to the upside.
During the recent few months this stock finished its 2-year correction of the long term uptrend, and right now it's making a new all-time-high. What's going to happen next? Look at my monthly chart.
Resistance arc is not valid anymore
As you can see on the chart, the arc which acted as a resistance, is now below the price, so it can be considered broken and not valid anymore. This means we can expect an uptrend continuation in the next few years. Also I have drawn another arc, the green one, which should act as a support for the price. It can be used as a sell signal in case of breakdown.
Elliott Wave and RSI angle
The recent correction was just a 2nd wave according to the Elliott Wave rules, and right now a motive wave 3 is beginning. RSI angle, which is shown on the chart, acted as a resistance since the year 2014, and now it's also broken. This indicates the trend reversal to the upside.
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