To: kamtrader who wrote (18883 ) 5/30/2000 5:47:00 PM From: sirinam Read Replies (1) | Respond to of 77509
Salut Kam, Pour ton info. A noter que l'accŠs … Briefing.com est gratuit aux clients E+trade, TdWaterhouse et d'autres sans doute. Ca fait du monde … messe qui lisent ces rapports. Ca fait 2 ans que je travaille avec eux et ils font bouger le march‚, crois-moi. 26-May-00 14:30 ET 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.