This under-the-radar entertainment stock is trying to break to new highs, charts say

Live Nation Entertainment has been under the radar recently, and it's easy to understand why. With so many other stocks pushing to new all-time highs, LYV is still trying to get back above its highs from earlier this year. So, even though attention has been elsewhere, we're discussing it today because LYV is the fifth-largest holding in the State Street Communication Services ETF (XLC) . Along with Alphabet and Electronic Arts , it is also one of the only XLC components within 5% of its 52-week high, making it one of the clearer leaders within the group. As the chart shows, LYV has been tracing out a potential cup and handle pattern over the last few months. The price action can be volatile and produce whipsaws, but the general structure is clear. From a trading perspective, a breakout above the slightly upward-sloping resistance line, currently near 170, would create an upside target near 196. For risk management purposes, the stop loss would sit just below the handle, near 157. Zooming out to the weekly log chart that extends back to the middle of 2023, we can see that the most recent setup is actually part of a much larger potential bullish formation that dates back to last fall. Again, this can be viewed as another potential cup and handle pattern, one that has simply taken time to trace out. The last time we saw something this substantial on the weekly chart was the setup that developed from the middle of 2023 through the fourth quarter of 2024. …