Nov
11

Yahoo (YHOO) Breaks Out, Little Resistance Above $34

YHOO Breaks Out of Wedge

Yahoo (YHOO) Gaps Up, Out of Falling Wedge

Yesterday we highlighted a chart of Yahoo (YHOO), showing a close on Friday just above the falling wedge pattern they have been trading within the past month. I was looking for a confirmation of that break out today and Yahoo followed through, gapping up on the open and finishing the day well above Friday’s close. Looking at the chart now, YHOO faces slight resistance at $34 and has a good deal of upside from a technical perspective once taking out that barrier. Another strong day tomorrow will take shares of YHOO above $34 and on their way to our $38 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.

Nov
10

Is Yahoo (YHOO) About to Break Out of Their Channel?

YHOO 11/10/2013

Yahoo (YHOO) Looks to Break Out This Week

Since highlighting Yahoo (YHOO) last month, shares are flat, after trading between $32- $34 on relatively low volume the past few weeks. When drawing trend lines on their chart, we can see that Yahoo closed above the channel on Friday. A follow through on that action tomorrow could signal a potential break out and good entry point for YHOO. Should shares fail to remain above $33 tomorrow, we could see $32 again this week, and would look to enter a position there. I believe YHOO is currently undervalued by nearly 20% based on the value of their Alibaba stake, Yahoo Japan stake, and core business operations.

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.

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