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Yahoo!(YHOO - Get Report) is a digital media company. Through the company's technology and insights, Yahoo! delivers digital content and experiences, across devices and globally. This stock is trading up 5.1% at $15.63 in recent trading.
Today's Volume: 17.2 million
Average Volume: 16 million
Volume % Change: 140%
Shares of Yahoo! are soaring higher today after reports surfaced from
Bloomberg that the company is in talks to sell about 20% of Alibaba Group back to the Chinese Internet company for about $7 billion.
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From a technical perspective, YHOO is gapping up sharply here on above average volume. This move is pushing YHOO within range of triggering a breakout trade above some near-term overhead resistance at $15.77.
Traders should now look for long-biased trades if YHOO can sustain a move or close above $15.77 with high volume. Look for volume on that move that's near or above 16,020,200 shares. If we get that action soon, look for YHOO to tag its next significant overhead resistance levels at $16.31 to $16.79.
Yahoo!, one of
Third Point's holdings, was also featured recently in "
5 Stocks With New CEOs to Stay Away From."