Yahoo has been on our watch list from late August when we first noted the important triangle break out around 37-38$. The Yahoo shares have since then been part of our managed portfolio. We entered long at 37$ and posted our alert through Stocktwits soon afterwards.
Below is my longer-term charts on Yahoo pointing higher towards 43$ or even 49$. Price remains inside the upward sloping channel and the 7 month consolidation is finally over by a strong break out above the triangle formation. This is the buy signal I have followed.
As far as Ichimoku terms are concerned, the chart is fully bullish with price above the cloud and Chiku span above the price candles. Both kijun-sen and tenkan-sen have a positive slope and all agree to more upside in this stock as far as the daily chart is concerned.
Support is found at 35$ and I do not expect it to be reached unless we see price break below short-term support at 37.50$. Trend remains bullish as price is making higher highs and higher lows. Even the weekly chart has just given a bullish crossover between the kijun- and tenkan-sen while the Chiku span is starting to move above the price candlesticks. The cloud is below current price and new highs are now expected.
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