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Yahoo! Falls 0.79% on Heavy Volume: Watch For Rebound (YHOO)

Written on Fri, 07/30/2010 - 12:20am
By Chip Brian

Yahoo! (NASDAQ:YHOO) traded in a range yesterday that spanned from a low of $13.75 to a high of $13.96. Yesterday, the shares fell 0.79%, which took the trading range below the 3-day low of $13.85 on volume of 16.3 million shares.
Shares of Yahoo! are currently trading below their 50-day moving average (MA) of $14.93 and below their 200-day MA of $15.94. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Yahoo! and our subscribers were alerted to Sell on April 28, 2010 at $16.82. The stock has fallen 18.2% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $13.85 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Internet Information Providers industry.

Keywords: yahoo! trading range stock news

Ticker(s): YHOO

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