Yahoo is technically ready for new highs

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Even though this chart is purely focused on technical analysis , I also believe this company is fundamentally sound and have a couple of catalysts (eg. Alibaba's IPO , Yahoo             Japan, and company's growth) in play for the next 6-12months.

In the past 6 months, everytime when the MFI hitted the 30 mark, the stock price was either AT or CLOSE to its trough/bottom.

In my opinion, the MFI has shown us that the 30 mark became a great support line and an excellent leading indicator. Whenever it reached the 30 mark, it has bounced off and allowed the stock price to reach new highs.

According to the OBV and Accum/Dist Chart, the accumulation of Yahoo             stocks at current prices are fairly stable. I would like to see the Accum/Dist to move a little higher, for it to indicate an even more bullish move.

Furthermore, on the MACD chart, the recent reversal where the 12 day has crossed over the 26 day is another bullish sign for the near future.
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