Yahoo!: bulls are in control, 7 trading days performance +16.48%

New bullish technical picture drawn on Yahoo! daily chart. Marked a series of 6 consecutive higher highs. 7 trading days performance +16.48%.

Yahoo! yesterday close was at 31.17 (+3.76%). Marked a series of 6 consecutive higher highs. New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The main trend is up on the daily chart, the bulls are in control. The positive value of many leading oscillators indicates infact an upward trend. Marked a sixth consecutive positive trading session. We suggest to monitore today closing.
YAHOO trading days

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 28.42). The short term view is strongly bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 22/02/2016.

Performance: 7 trading days= +16.48% – 15 trading days= +5.41% – 30 trading days= +1.76%

Resistance levels: R1= 31.46 – R2= 31.74 – R3= 32.56
Pivot Point: 30.92
Support levels: S1= 30.64 – S2= 30.10 – S3= 29.28


DAILY TRADING SIGNALS

Buying opportunity above 31.24, targets minor resistance at 31.63 and perhaps as far as strong resistance at 31.90, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 32.59.

Selling opportunity below 30.99, targets minor support at 30.61 and perhaps as far as strong support at 30.34, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 29.67.