Yahoo! (YHOO) Crosses Pivot Point Support at $20.02
Shares of Yahoo! (NASDAQ:YHOO) opened today below their pivot of $20.11 and have already reached the first level of support at $20.02. Should the shares continue to fall, the support pivots of $19.91 and $19.71 will be of interest.
Yahoo! (NASDAQ:YHOO) is currently priced 1.7% above its average consensus analyst price target of $19.66. The stock should discover initial support at its 50-day moving average (MA) of $19.00 and subsequent support at its 200-day MA of $16.42.
In the past 52 weeks, Yahoo! share prices have been bracketed by a low of $14.35 and a high of $20.32 and are now at $20.01, 39% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.2%.
SmarTrend recommended that subscribers consider buying shares of Yahoo! on September 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.99. Since that recommendation, shares of Yahoo! have risen 25.9%. We continue to monitor YHOO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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