$YHOO - Triple Top on Yahoo. Bears Licking Their Chops.

Before I begin:

Yahoo (YHOO) upgraded to Outperform from Market Perform at Bernstein

Now, Yahoo (YHOO) has been shredding Bears ever since CEO Marissa Mayer took over. To be honest, I gotta admit, she has done one heck of a job for YHOO investors. The stock has almost doubled *Golf Clap*. Though it is unclear whether the company will be able to keep up with Wall Street expectations, and continue its Bullish climb to irrational all-time-highs. In the meantime, you can take advantage of the upcoming downward pressure on YHOO, with the stock having formed a Bearish Triple Top pattern.

This trade is purely Technical for now. I’ll post an update if I see any Fundamental shifts on YHOO.

Here is a Daily chart of YHOO:

YHOO - Daily Chart
YHOO - Daily Chart

Recommendation: SELL

Price Target: $29

Wall Street Fool

Wall Street Fool provides unbiased real-time market analysis and commentary for Stocks, Bonds, Futures, Forex, Fixed Income, and Derivatives markets.

Latest posts by Wall Street Fool (see all)

Share

About Wall Street Fool

Wall Street Fool provides unbiased real-time market analysis and commentary for Stocks, Bonds, Futures, Forex, Fixed Income, and Derivatives markets.
This entry was posted in Real-Time Market Analysis, Stocks and tagged , , , , , , , , , , , , , , , , , . Bookmark the permalink.