May 15, 2011

YAHOO FALLS To the Support level


  • Yahoo's weekly sell off has brought the stock down to a major support level.
  • 50 Week moving average. 50% Fibonacci retrace level and the 200 Day moving average. 
  • So a confluence of support, But will it hold? On seeing the Volume in weekly chart i feel this support level may get breached.
  • Most important chart is the last one which has the daily time frame with 200 day moving average. Last hit at this moving average resulted in a rally. Price on friday has taken support at this level if it gets breached on closing basis then the correction will get extended.
  • MSFT WEEKEND UPDATE

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