Yahoo's recent rally may not be over

By Julian Yosovitch

January 23, 2015 • Reprints

http://www.futuresmag.com/2015/01/23/yahoos-recent-rally

Yahoo! shares (YHOO) have shown a significant rally in recent sessions, returning to $48.88 late Thursday.

The stock has recognized major soupport located at $46.30, and as long as 46.30 is not broken we can still speculate on further rallies towards $50 initially with the possibility of reaching $52.60 later.  

A break above of $52.60 will enable a stronger signal that will further bullish movements toward more ambitious zone values at $60-$62.

The bullish view will be kept alive as long as the minimum of $46.30 is not broken down. Otherwise, we will see a continuation on the bearish movement back to $44.30 from where the uptrend should be resumed as protected.

Only a direct break below $44.30 could lead back down to  $42.00-$41 within the 200-day moving average--but we can't rule out further declines toward lower levels.