Is LINE Corporation (LN) a Buy? The Stock Formed Inverse H&S

September 16, 2018 - By Darrel Chase

The stock of LINE Corporation (LN) formed H&SI with $44.39 price target or 7.00 % above the current $41.49 share price. The 6 months Head & Shoulders Inverse reveals low risk for the $9.86B company. This trade was featured by on Sep, 16. If the $44.39 target price is reached, the company’s valuation will be $690.27M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 0.41% or $0.17 during the last trading session, reaching $41.49. About 47,666 shares traded. LINE Corporation (NYSE:LN) has risen 17.90% since September 16, 2017 and is uptrending. It has outperformed by 2.28% the S&P500.

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, and Indonesia. The company has market cap of $9.86 billion. The firm offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, and voice and video calls, as well as serves as a smart portal to its other applications and services. It has a 1536.67 P/E ratio. It also provides communication and content sales and advertising services through the LINE platform; and advertising services through LINE advertising, and livedoor and NAVER Matome Web portals.

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