Yahoo (YHOO) Stock at 52 Week High, Highest Price Since January 2006

Yahoo (YHOO) is making a lot of people look/ feel pretty smart this week as shares continued their surge today. YHOO opened down this morning but remained in a steady uptrend throughout the day, filling the gap on their chart created by yesterday’s price action and setting a new 52 week high in the process. Not just a 52 week high, today was Yahoo’s highest closing price since January 2006. As mentioned yesterday, there is no overhead resistance on YHOO’s chart now and shares have plenty of room to continue their run. In my analysis of Yahoo last month I suggested they were undervalued and that their fair value was in the range of $38- $40 per share. I will review and update my recommendation of YHOO next week if shares continue to close in on my target price.

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.