Technician
Long

Yahoo! Technical Analysis: Further Room To the Upside!

NASDAQ:YHOO   YAHOO INC
460 0 9
Technical Analysis
The upside is favored in the near term, as the price has managed to take 37.00 resistance level , and settle back above the 200-days SMA . That could be within the context of forming a rounding bottom or cup with handle pattern. I am targeting initially 41.70 level, a breakout above 41.70 would confirm the bullish continuation to the major long term resistance at 43.65.

Holding above 37.00 support level keeps this scenario likely.

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