Yahoo (YHOO) Shares Remain Strong

In what is seemingly becoming a daily column, we take a look at Yahoo’s (YHOO) price action once again. After breaking out of a wedge pattern yesterday, YHOO stock gapped up once again today taking out the key $34 level as we had expected. Despite a down day for the markets, Yahoo displayed strength all day and remained above $34. I believe this price will now provide support to the downside, and looking at YHOO’s chart now, there is little overhead resistance to be found. This stock is firing on all cylinders at the moment from a technical analysis perspective.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.