This is just a re-post of the Yellow Corporation (YRCW previously) idea. Tradingview help-desk were unable to attach the idea to the new ticker symbol (YELL). So far price action is up 120% since original post in January.
*investment opportunity*
Have spent hours and hours crawling through the various indexes of the world during this seemingly never ending uncertainty for possible opportunities. The result? Opportunities that could makes gains in Crypto seem mediocre are plentiful.
Following a 100% correction from 425k (really??) to $1. 40 and oversold condition (shocker - orange columns), there now exists an ‘incredible buy’ opportunity.
Currently there is an incredible 8 year bullish divergence in price action, most visible on the above 3-month chart. This divergence also includes a significant increase in volume .
On the fundamentals, ‘YRC Worldwide’ is a holding company for which a number of freight / logistics companies operate in the US. The above divergence has occurred at the same time freight demand appears to have bottomed out but now appears to be turning around. There is an interesting report from McKinsey (link below) on the US freight and logistics industry.
On a side note: Of all the ideas I’ve recently discovered (many not yet published) they are all pointing towards internal markets becoming more self sufficient. Heavy industry, chemicals etc. This idea and others like support that economic direction the US and other countries like the UK appear to be taking.
Lastly the 10-day chart bellow shows the divergence in a little more detail. RSI is above 50 = bullish
Trade active
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Looking very nice indeed. On the 10-day chart below following the bullish divergence price action breaks through the yearly EMA (green line) to confirm support.