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After Yesterday's Rally of 8.02% Shares Could Potentially Pullback

By Shiri Gupta

Yelp Inc (NYSE:YELP) traded in a range yesterday that spanned from a low of $33.18 to a high of $35.92. Yesterday, the shares gained 8.0%, which took the trading range above the 3-day high of $34.75 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Yelp Inc share prices have moved between a 52-week high of $45.45 and a 52-week low of $29.33 and are now trading 21% above that low price at $35.44 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Yelp Inc and will alert subscribers who have YELP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders yelp inc

Ticker(s): YELP