Market Technician Provides Insight On LinkedIn And Yelp Ahead Of Earnings

LinkedIn Corp (NYSE: LNKD) is scheduled to report earnings Thursday after market close.

Analysts are expecting earnings of $0.53 per share, up 35 percent year-over-year. While some experts are bullish, the crowd is bearish.

CMT Christian Tharp told Benzinga via email that, “LNKD has been trading within a relatively clear range between $210 and $240 a share. Earnings should be the catalyst for the stock to break out of that range. A break above $240 should lead to much higher prices for the stock, while a break below $210 probably spells trouble for LNKD.”

Related Link: Here's Why Investors Should Expect A 10% Move For GoPro, Twitter And Yelp

Tharp discussed Yelp Inc (NYSE: YELP), which also to report earnings on Thursday. He said that the key level to watch there is $50.

“If the company's earnings report sends the stock lower towards that level, investors should watch for a hold if YELP is forming a bottom. However, a break of that support should lead to a decline of some magnitude for the stock.”

Shares of LinkedIn recently traded at $234.01, up 0.85 percent.

Shares of Yelp recently traded at $56.97, up 0.33 percent.