Nearest Resistance: $36
Nearest Support: $28
Catalyst: Ukraine-Russia Flight to Quality
Russian internet company Yandex (YNDX) is getting shellacked in today's session, down more than 12% as I write thanks to a flight to quality brought on by the escalating situation between Ukraine and Russia. While all of Europe is selling off today on fears over armed conflict over Ukraine's protests, Russian equities are getting slammed the hardest as investors get concerned about the safety of their equity under tense U.S.-Russian relations.
Either way, this chart is broken today. This morning's gap down broke shares down through the neckline in their head and shoulders top setup. Now, lower ground is the high probability trade in shares. $25 is the technical price target from the breakdown.