A look at Yahoo! Inc. — Bullish Price Action
Yahoo! Inc. ($YHOO) averages are at $35.09 (21 day SMA), $34.03 (50 day SMA), $27.86 (200 day SMA). Over the past 52 weeks YHOO has traded from a low of $18.60 to a high of $37.35. YHOO was last at $37.52 on a volume of 14,892,400. Average daily volume has been at 21,042,725.
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Yahoo! (YHOO) has been trending higher for more than a year, breaking out from $16 last October to the current price of $38. Notice how each pullback or sideways drift that hit the 50-day moving average resulted in buying interest that pushed the stock higher. This trend is continuing and today’s 4.32% advance occurred on heavy volume.
Still, traders who study charts will see that the stock is high above the 50-day moving average to an extent that has led to pullbacks or consolidations in the trend. A prudent trader would watch this stock and wait for the stock to move closer to the 50-day moving average before taking some stock. Pullbacks are still buying opportunities.
Carpe diem.
Yahoo, Inc. is a global Internet brand and digital media company. It is engaged in creating content, communications, and community platform that delivers consumer experiences and advertising solutions.
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