YELP is facing strong resistance ahead of its earnings.
The Stock's price is below 35-36$, which is a strong weekly Zone that includes the weekly downtrend line and 3 weekly MA lines (including the 200 weeks MA line).
If YELP will remain below the current Resistance Zone (probably will gap lower), it can slide all the way down to...
Hi everyone, after a week off I'm back to the stage!
There are still plenty of names that are going to have their earning report this week.
Again, this series is more about "How I check up names during earning season" rather than focusing on some specific names or plans.
Mon: MAR, SHAK, TSN, TTWO
Tue: FIS, MNK, DIS
Wed: DDD, AIG, BKNG, JACK, LYFT
Thur: ATVI, DBX,...
Probably the most noteworthy thing to say about YELP is that it will soon be involved in an antitrust case against Google, that alone gives an indication of how poorly the business model can contend with competition. Expectation are very low in the stock and the options market is signalling more pain ahead, until that downtrend is broken its short all the way....
Despite any upgrades we see nothing that would compel us to go long in this stock. It has had a lot of volatile moves and we believe more will happen in the not to distant future, but in a downward fashion.
Here are some targets to trade too.. This is waaaaaaaaaaaay below any long term moving average so you need to be looking at some really hard pivots here. The weekly chart is the only one that shows some. Trade with a tight stop on this one and get out when targets are met.
11/5 - OPINION - Looks like a BUY opportunity,
does YELP need to retest $41.90 ??
MACD crossing north +
RSI (49.2550) looks poised for a buy
10 EMA about to cross north over 20 EMA
*Let's see what happens!!!
*DISCLAIMER - I am not a professional trader, these are merely my views, thoughts, and opinions. Please seek professional advise in your investments.
$44.19 solid support line, smaller arrows show where the stock stopped moving/price pivoted
Trending resistance has now forced a wedge that will squeeze the YELP price north towards confirmation of that
trending resistance line. Enter volume and favorable SENTIMENT and we will see a breakout north to $46.77,
a price point that YELP finds comfort in, as...