YNDX 16$?

Many traders have been snapping up much cheaper Yandex stocks. To tell you the truth, I can’t fathom the reason why. No matter how you analyze the stock, YNDX holds no upside potential. There will be a glimmer of hope for upside only after the bearish trend (USD 25-26), which has been in place since January 2011, is breached. But will there be any more attractive names by that time?

Maybe investors are enticed by the fact that the stock is close to its all-time low. This spooks me, as only speculative traders can take this level seriously and Yandex is not what they are looking for. After Yandex dropped below USD 28 (the Fibonacci retracement level of 61.8% from June 2008 through January 2014), technical analysis tools appear to be useless for the time being, as the Fibonacci retracement level of 61.8% is negative. Why? I’ll tell you a bit about the behavior of stocks when the Fibonacci is so low if you vote for my forecast in the contest Or take part in it yourself! Let’s be competitors!