We could continue to see lower prices for YHOO coming up
Price is in the over bough region and currently experience bearish divergence on the 4 hour and daily chart. We expect price to fall. Price is also bouncing off a dawntrend line on the daily chart.
A head and shoulders pattern is emerging for YHOO. With general sentiment on wall street negative for te CEOs new changes expect Yahoo to drop considerably after price drops past the neckline. I am expecting to find some historic support around the $11-$8 range www.thestreet.com
YHOO Perfect Patterns with strong legs The targets are highlighted on the chart Good Luck and Lets see
- Pattern bears resemblance to a bullish flag, with more or less supporting trends in volume (far from perfect) - MACD is close to buy signal, RSI didn't really fall below 50 (mildly supportive) - Break out from flag should happen with substantially higher volume (not like today), so no real confirmation here yet - Should (and only if) the confirmation arrive...
After successful IPO of Alibaba and resulting proceeds and forecast busting 3rd Qtr Earnings released after the market close today, will Yahoo have anything to shout about. Or will it be the case that Yahoo's wealth and treasures will flee along with Alibaba & his 40 thieves? Time will tell. However, I think the Chart say it all. Look forward to catching some...
Looking at the chart, one can notice decreased volatility in the recent couple of days. The triangle have formed on the daily chart.. Moreover, the pattern of lower highs but higher lows pushing stock sideways prior to earnings! Given recent events such as Alibaba IPO and Starboard involvement, i predict stock has more chance to breakout upwards prior\after the...
Yahoo has produced two high probability patterns that would fit well in a bearish channel. The cypher (purple) formed right after the rejection candle at $32.17 at the 1.27 extension measured from the X to A leg. Price also put in a double top at $39.64. A Gartley pattern (red) shortly appeared right after. The kill zone for the bearish Gartley pattern is at...
Bearish Engulfing along with 50 period SMA poised to cross over the 200 SMA to the downside. A well defined trendline lies beneath forming potential support.