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- 1 Linde stock price slid 1.25% in the last trading session and is currently trading at $383.78.
- 2 Linde share price (NYSE: LIN) is good value based on its Price-To-Earnings Ratio (32.9x) compared to the peer average (34.6x).
Linde PLC is an industrial gas company that operates in different regions of the world. It provides gases, such as oxygen, nitrogen, argon, carbon dioxide, helium, hydrogen, and others. The company also builds process plants for gas production and other purposes, such as air separation, hydrogen, synthesis, olefin, and natural gas plants.
The Linde share price currently trades at $383.78, declining 1.25% in the last trading session. LIN stock holds a market cap of $189.6 Billion. It has a total of 487.9 Million shares outstanding. The PE ratio for the stock is 32.9. The price-to-sales ratio for the stock is 5.71.
Linde stock derivatives data states that the current Implied volatility in the market is 19.87% with an increment of 1.67% in the last trading session. It has a total of 34.646K open interest contracts as of now. The PUT/CALL ratio is 1.08 indicating a strong bullish sentiment in the market as per the data.
Linde Stock Price Prediction Using Price Action Strategy
Linde share price analysis reveals that the stock has been in an uptrend in the past 6 months gaining nearly 18.02%. The stock is headed upwards forming higher lows and higher highs in the daily Linde chart.
Also, the price has formed a rising wedge pattern and currently suffered rejection from the upper trendline of the rising wedge. Until the price remains in the wedge it may continue its ongoing trend getting support from the lower trendline of the wedge.
The price has formed a negative price action which may result in a pullback and the price may slide up to the lower trendline of the rising.
Linde Share Price Forecast from Indicators’ point of view
As per the EMA analysis, the Linde stock price was trading above 50 EMA and surged higher after getting support, indicating buyers’ short-term presence in the market. Also, the price is trading above 200 EMA which shows the long-term uptrend of the stock.
At the time of publishing, the RSI value of the Linde share price is 54.20 and that of the SMA line is 60.58. RSI is showing a divergence which signals that the price might reverse.
MACD lines are about to make a bearish crossover. Also, histogram bars are being formed above the mean line but the height is decreasing indicating a loss in the momentum of the ongoing trend and the price might reverse.
Conclusion
Linde stock price prediction concludes that the stock has been in an uptrend in the past 6 months gaining nearly 18.02% and headed upwards forming higher lows and higher highs. The price formed a Rising wedge pattern. Recently, the price has suffered rejection from the upper trendline of the wedge forming negative price action. Now, the price may decline to take a pullback. However, until the price remains in the wedge the price may receive the support of buyers after pullback. However, the breakdown of patterns may lead to a trend reversal.
Technical Levels
- Support levels: $374.44 and $360.44.
- Resistance levels: $391.7 and $400.52.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
