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Tuesday, October 02, 2007 

Trade Idea - YAHOO

Chart courtesy of stockcharts

After recent rally YHOO is now consolidating some gains, finding here some resistance. However it's now clear that stock has legs to move up again, after some changes that CEO is making. It seems to a question of time, results will appear soon. Technically speaking, stock is trading in a short Bullish trend showing positive sign as the stock has been on the upside since late August and the stock has been above both 20 day and 50 day moving aveage since September. MACD still above 0 and RSI going up, so no reason to leave this rally. Short interest decreased 17%. With stock above 50 day moving average, this is a great sign that the stock could be back to bull market soon. In my opinion this is a great stock to hold.

Chart courtesy of stockcharts

BIDU where you go ???????? $400 price target by JP Morgan !!!! It's a huge price target according to the actual price. Now, I prefer wait for a pull back to buy shares.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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