Bears Appeared - Liberty Media

Published on Tuesday, 27 July 2010 17:54 Written by Christian Paolinetti

New York, July 27th (TradersHuddle.com) - Shares of Liberty Media Corp - Interactive (NASDAQ:LINTA) ended the trading session lower by $0.27 or -2.26% from its previous close. Liberty Media's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Liberty Media Corp - Interactive (NASDAQ:LINTA) is a tracking stock issued by Liberty Media Corporation to track the performance of the Interactive group. The Interactive groups interests include a TV home shopping network, Internet shopping, and online travel booking site.

Liberty Media's current stock range is defined by calculated support defined at $10.91 and by the resistance level at $11.49, which should be used by traders planning their trades.

Traders wanting to establish a position in Liberty Media stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Liberty Media shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: