YHOO Up 50% in Six Months, Remains on Track to Hit $33
We’ve had a number of bullish posts on YHOO dating back to September 19th right here, where we explained that old-line late 90s tech super-stars were going to begin out-performing again.
Back then, when YHOO was trading 50% lower below $16, we said the following about old-line internet related names:
“YHOO appears the most attractive – if it merely hit its 23.6% retracement level it’d be a ~$33 stock, or a double from here.”
Though we had a fundamental thesis about internet names out-performing again, we noted the stock was close to breaking-out from a long-term flag/consolidation pattern, which cued most of our interest in the name.
A link to the original chart is here and the updated chart is below – we remain of the belief that YHOO hits at least $33 before its run is over.
Also, can it hurt your stock that much when the woman above is your CEO?