Charts Show the Bottom Could Drop Out of Yahoo!'s Stock Soon
Lookout below in Yahoo!'s stock, according to technical analysis.
It's time for Yahoo! (YHOO) investors to abandon ship, according to TheStreet's contributor Ken Goldberg.
The struggling tech company's chart is showing signs that the bottom is ready to fall out. Goldberg credits pump and dump media coverage with keeping the stock afloat above $40, but his analysis indicates that the pump from the coverage probably peaked at $44 and that the dumping of the stock has already began. While there could be some chart support for Yahoo around the $27 level, Goldberg does not see strong support for the stock until the mid-teens. Goldberg says investors should watch for any break below $34 a share.
