Yahoo YHOO Surprises with Bullish Breakout into Open Air

Jul 22, 2016: 11:28 AM CST

As the stock market bull continues, we continue to see stocks breakout to new highs.

Yahoo! (YHOO) is another growing example of a leading stock breaking out to a new swing high.

Take a moment to view the prior post “Ten Strong Stocks Breaking to New Highs.

Yahoo shares developed a Trading Range (rectangle) between the $35.00 and $38.00 per share level.

We’re seeing a bullish breakout beyond $38.00 this week and a quick swing up toward $40.00 per share.

Let’s take this Daily Breakout and place it into the larger context of the Weekly Chart Trend and “Open Air:”

Yahoo (YHOO) shares established a wide range of the $52.00 high and $26.00 low from 2014 to present.

The breakout beyond the $38.00 range opens the stock into “Open Air” beyond this resistance level.

The quick take-away is that shares could extend the rally through price levels without resistance.

For now, watch the $36.00 and $38.00 support levels and as long as price trades “up away from” these pivots, Yahoo! (YHOO) remains a bullish breakout “open air” buy candidate.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to

Follow Corey on Twitter:

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

1 Comment

One Response to “Yahoo YHOO Surprises with Bullish Breakout into Open Air”

  1. Stock Market Bull Continues - Says:

    […] By Corey Rosenbloom […]