Hook, Line, and...Mover!

After its IPO was met with little fanfare, LINE Corporation, out of Japan, has faded into relative obscurity while momentum players gravitated towards high beta China issues like NTES YRD WB, and now BABA. 

However, with nearly one full month as a publicly-traded ADR in America, LN is waking up today amid a soft summer Friday tape. 

On the daily chart, below, the social/internet play is threatening to emerge from an initial post-IPO base bottom if it can hold back over $43. 

I typically like to wait four-to-six months after an IPO before swinging it for any meaningful period of time, though the action in ACIA since its May IPO is obviously a very bullish example of some of them coming out of the gates charging hard and not looking back. 

On a day where even gold miners are now faded back to red, energy stocks underperforming crude, and the indices staying red into the early-afternoon portion of the session, seeing LN perk up is interesting considering how quiet it has been since its IPO amid all-time highs on the major averages.