Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for February 13 2006
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| STOCK: YAHOO (YHOO) |
WEBSITE: www.yahoo.com |
| CURRENT PRICE: 32.51 |
TREND: SHORT TERM UP |
| TARGET PRICE: N/A |
RECOMMENDATION: SPECULATIVE TRADE |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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Yahoo is a stock that has been under some tremendous selling pressure over the past little while, and has sawed the price down by about 25%. When the long term chart is viewed, you can clearly see the “falling knife” scenario, which means that getting in while the decline is occurring could cause your trading account to decline. You can see support around $30, which isn’t very strong, but gives the stock a couple of points of safety zone from here. The MACD continues to head lower from here, with the STOCHs suggesting that the decline may be coming to an end, but mixed signals are not an optimal trading signal naturally. On the short term chart, you can see the price reaching support at its current price level, which is confirmed by a MACD divergence, and could spell short term opportunity here. The price is also below both 200 and 50 day moving averages, which isn’t a good sign either.
Bottom line, there is a chance of some short term price increases here, but if you do make some money from this trade, you may want to take profits fairly quickly, as the long term trend still needs to base here.
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