YHOO Uncertainty
By Johns Wu on Sep 23, 2005
Yahoo (YHOO) looks ready for to move (up or down) tomorrow. It’s been drifting towards its support $31.50 support and the market is not sure what to do.
The bulls are wondering if its ready to bounce off the historical support while the bears are hammering it because of its bad results from last quarter.
Look at the symmetrical triangle on the intraday charts. Symmetrical triangles are tricky because you can’t tell which direction the stock will break out, but YHOO should move somewhere soon.
Frank points out that another factor to consider is whether or not QQQQ will show signs of a reversal and bounce off its support.
2 Responses to “YHOO Uncertainty”
Same for QQQQ. It’s down 0.5% early on in the morning. We will have to wait until the end of the day and see how it plays out, but it doesn’t look pretty.
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it is not goood today