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.



YHOO_010306.jpg

You May Also Like

Related Analysis
  1. Stock Analysis

    Weight Watchers Surges on Takeover Speculation

  2. Stock Analysis

    Kraft Heinz: A New Food Giant Hits the Market

  3. Stock Analysis

    Philip Morris Trims Its Stake in Indonesia

  4. Chart Advisor

    Watch These Stocks For Breakouts Right Now

  5. Stock Analysis

    Why an Android Blackberry Phone Makes Sense

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!