After Yesterday's Rally of 1.45% Shares Could Potentially Pullback
Yahoo! (NASDAQ:YHOO) traded in a range yesterday that spanned from a low of $43.25 to a high of $44.05. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $43.87 on volume of 2.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Yahoo! share prices have moved between a 52-week high of $45.07 and a 52-week low of $26.15 and are now trading 68% above that low price at $43.81 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.
SmarTrend recommended that subscribers consider buying shares of Yahoo! on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.36. Since that recommendation, shares of Yahoo! have risen 47.2%. We continue to monitor YHOO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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