Downgrade Alert for Yahoo! (YHOO)
Yahoo! (NASDAQ:YHOO) was downgraded from Buy to Hold at Pivotal Research today. The stock closed yesterday at $37.96 on volume of 18.1 million shares, above average daily volume of 16.0 million.
Yahoo! has overhead space with shares priced $37.96, or 8.4% below the average consensus analyst price target of $41.43. The stock should discover initial support at its 50-day moving average (MA) of $35.37 and subsequent support at its 200-day MA of $33.22.
Yahoo! Inc. is a global Internet media company that offers an online guide to Web navigation, aggregated information content, communication services, and commerce. The Company's site includes a hierarchical, subject-based directory of Web sites, which enables users to locate and access information and services through hypertext links included in the directory.
Yahoo! share prices have moved between a 52-week high of $45.07 and a 52-week low of $26.15 and closed yesterday at 45% above that low price at $37.96 per share. 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 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 28.5%. We continue to monitor YHOO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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