This under-the-radar entertainment stock is trying to break to new highs, charts say
If Live Nation can finally break above its most recent resistance line and push toward new highs, it could complete a bullish formation.
AI Summary
Live Nation Entertainment (LYV) is an under-the-radar stock that could complete a bullish cup and handle formation if it breaks above resistance near $170, with an upside target around $196. The stock is the fifth-largest holding in the State Street Communication Services ETF (XLC) and is one of the clearest leaders within the group, currently within 5% of its 52-week high. A weekly chart analysis reveals this recent pattern is part of a larger bullish formation dating back to last fall, similar to a previous setup that led to new all-time highs once resistance was broken.