Yahoo! Inc YHOO Daily - Trend Down, Rolled Over, Target $32-$30
Yahoo has rolled over from overbought and is in a confirmed downtrend. $32-$30 target zone. Sell $34.30-$36.00. Stop $1.95 from entry. Be prepared to sell any strength into the gap from Monday's action from 36.94-34.80.
The trend is down using my "Range Movement" calculation which broke trend well before the stock broke its long term trendline back in April. Now, as all eyes focus on Alibaba and YHOO's plans for the cash it hopes to reap in the 8/8/2014 (hoped for) IPO of Alibaba, the stock is moving sideways as old longs cash out and new longs try to support the stock in hopes of profiting from the big cash haul from the Alibaba IPO.
Tim 34.35 last -0.09 10:14AM EST, 6/18/2014
Yahoo has rolled over from overbought and is in a confirmed downtrend. $32-$30 target zone. Sell $34.30-$36.00. Stop $1.95 from entry. Be prepared to sell any strength into the gap from Monday's action from 36.94-34.80.
The trend is down using my "Range Movement" calculation which broke trend well before the stock broke its long term trendline back in April. Now, as all eyes focus on Alibaba and YHOO's plans for the cash it hopes to reap in the 8/8/2014 (hoped for) IPO of Alibaba, the stock is moving sideways as old longs cash out and new longs try to support the stock in hopes of profiting from the big cash haul from the Alibaba IPO.
Tim 34.35 last -0.09 10:14AM EST, 6/18/2014
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com