On Nov 30 we mentioned that Yahoo! was able to get above $39 - a level that has historically proved to be a strong area of resistance. As you can see from the chart below, YHOO climbed higher for a few weeks after testing the support in early December, but has since managed to slip back toward the support. Today's bounce off the $39 mark is showing the bulls that the support is still strong and that the price could go higher again.
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