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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: hasan syed who wrote (25559)5/30/2000 11:02:00 AM
From: brian z  Read Replies (1) of 27307
 
This is from Briefing.com.....Briefing is wrong almost all the time tho..

Trader's Edge -- Yahoo!

[BRIEFING.COM - Jim Schroeder] The overall performance of the
internet portal this year has been nothing to yell about as the stock price has
slumped as much as 57% off of its January high. Yahoo has been able to
stabilize in the wake of this precipitous plunge and form a broad trading
range. However, the inability to mount any kind of sustained upside action
and the fact that the length of this drift has already exceeded the
February/March correction suggests that YHOO may be positioned for a
breakout to the downside over the near term.

Trading Points

The lack of upside aggressive action, reflected by the failure to stage
a recovery back through the 38% retracement (a typical minimum
target) of the move off the March high during the month long
sideways drift reflects an underlying negativity.

While the action in the wake of the second leg of the downswing has
seen a stabilization near the 200 day moving average ($133), the
inability to build any value above during the last month also alludes to
new lows.

Technical indicators such as the still weakening oscillators and
negative moving average crossovers implying that a bottom of
importance has yet to be formed.

There has been no let up in the technology malaise as reflected by the
abbreviated recovery attempts in this sector and the Nasdaq
Composite as a whole. With this key group remaining under
pressure, the perception is that ad revenue for YHOO will continue
to be squeezed.

An initial target for the anticipated breakout is at the psych barrier of
$100. A secondary level of more importance is in the $96/94 zone.
This represents a series of weekly highs from October and July
1999. The 100 week moving average comes into play thereafter in
the $89 area.

Outlook: While we are favoring a bearish breakout, YHOO could
stage a sizeable recovery from the above technical barriers. The
pattern that the company has displayed to rally in the weeks
preceding the earnings data (2Q report due in the first week of July)
fits in well with this scenario. Selling opportunities may develop
thereafter, however, as YHOO has been hurt in post earnings trade.
The last two years the stock price has tumbled over 40% in July.





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