Watch for Shares of Yahoo! (YHOO) to Approach Resistance at $42.94
Shares of Yahoo! (NASDAQ:YHOO) opened today above their pivot of $41.97 and have already reached the first level of resistance at $42.31. Should the shares continue to rise, the resistance pivots of $42.94 and $43.91 will be of interest.
Yahoo! (NASDAQ:YHOO) is currently priced 3.1% above its average consensus analyst price target of $41.43. The stock should find initial support at its 50-day moving average (MA) of $35.37 and further support at its 200-day MA of $33.22.
In the past 52 weeks, shares of Yahoo! have traded between a low of $26.15 and a high of $45.07 and are now at $42.74, which is 63% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.
SmarTrend is monitoring the recent change of momentum in Yahoo!. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Yahoo! in search of a potential trend change.
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