Live Nation Crosses Above its 10-day MA (LYV)
Today, shares of Live Nation (NYSE:LYV) have crossed bullishly above their 10-day moving average of $8.78 on a volume of 205K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Live Nation has overhead space with shares priced $8.92, or 31.4% below the average consensus analyst price target of $13.00. The stock should hit resistance at its 200-day moving average (MA) of $10.20, as well as support at its 50-day MA of $8.56.
In the past 52 weeks, Live Nation share prices have been bracketed by a low of $7.14 and a high of $12.44 and are now at $8.92, 25% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.5% lower over the past week, respectively.
Live Nation Inc. produces, operates, and promotes live events including music concerts, theatrical shows, specialized motor sports, and other events.
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