Liberty Interactive Corporation owns interests in subsidiaries and other companies that are primarily engaged in the video and digital commerce industries. Those interests are attributed to two tracking stock groups: the QVC Group and the Liberty Ventures Group. Liberty Interactive Corp. shares are traded on the NASDAQ exchange. The asset's symbol is NASDAQ:LVNTA.
During the recent few months this stock finished its 2-year correction of the long term uptrend, and right now it's making a new all-time-high. What's going to happen next? Look at my monthly chart.
Resistance arc is not valid anymore
As you can see on the chart, the arc which acted as a resistance, is now below the price, so it can be considered broken and not valid anymore. This means we can expect an uptrend continuation in the next few years. Also I have drawn another arc, the green one, which should act as a support for the price. It can be used as a sell signal in case of breakdown.
Elliott Wave and RSI angle
The recent correction was just a 2nd wave according to the Elliott Wave rules, and right now a motive wave 3 is beginning. RSI angle, which is shown on the chart, acted as a resistance since the year 2014, and now it's also broken. This indicates the trend reversal to the upside.