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Bearish Moving Average Cross by Liberty Media (LINTA)

Published on Mon, 04/15/2013 - 11:17
By Adrienne Chilton

Today, shares of Liberty Media (NASDAQ:LINTA) have crossed bearishly below their 10-day moving average of $20.99 on a volume of 872K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Liberty Media have traded between a low of $15.93 and a high of $22.10 and are now at $20.89, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has remained constant.

Potential upside of 15.8% exists for Liberty Media, based on a current level of $20.89 and analysts' average consensus price target of $24.20. Liberty Media shares should encounter resistance at the 50-day moving average (MA) of $21.28 and support at its 200-day MA of $19.66.

Liberty Media Corp - Interactive is a tracking stock issued by Liberty Media Corporation to track the performance of the Interactive group. The Interactive groups interests include home and Internet shopping online travel.

By Adrienne Chilton
achilton@fnno.com