Yahoo! shares (NASDAQ:YHOO) are under selling pressure. There is a “sell” signal in the market and it would be senseless to go long right now, unless otherwise proven by the price action.
The ADX period 14 is at the level 30, showing the presence of momentum, while the DM- is above the DM+, meaning that the bears dominate at the present. The MACD (default parameters) has its signal lines and histogram below the zero line. This underlines a Bearish Confirmation Pattern in the market.
Yahoo! price is likely to go further downwards, reaching the demand levels at 20.00, 18.00 and 15.00 this year.
This forecast is ended by the quote below:
“That stock you thought was a sure thing just tanked. The lesson: Sometimes the unpredictable happens. It happens to the best analysts, the best fund managers, the best advisors, and, it can happen to you.” – Stephanie Powers
What Super Traders Don’t Want You To Know: Super Traders
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