Yahoo - Consolidating at value
Updated
The weekly chart does not say much, it is a rising stock after a double bottom in a H&S. Looks pretty neutral.
On the daily chart, there is a nice consolidation pattern right at value after a big bearish divergence. I would go long with a soft stop below this consolidation pattern, with a target at 41.50$. Depending on how the stock looks at that level, I will probably hold 20-30% of the position until ~50$.
On the daily chart, there is a nice consolidation pattern right at value after a big bearish divergence. I would go long with a soft stop below this consolidation pattern, with a target at 41.50$. Depending on how the stock looks at that level, I will probably hold 20-30% of the position until ~50$.
Trade closed: target reached
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