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Monday, April 09, 2012

YELP - Confluence of Resistance

Wow, what a comeback: a 11.5% Intraday Swing so far.  It hurt that I missed an add at the 50 day MA by a dime.  It's now, however, at an important juncture.  It's retesting the 50 Fib and broken trend line at the same time on the daily chart, not to mention the down trend line, the neckline, and the 20 day EMA on the 60 minute chart. Could YELP cut through ALL of these resistance?  Enjoy the show.

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