A 52 Week Low for Yahoo!

Published on Tuesday, 24 August 2010 12:37 Written by Christopher Lynn

New York, August 24th (TradersHuddle.com) - Shares of Yahoo! Inc. (NASDAQ:YHOO) booked a new 52 week low by trading below $13.52, traders are definitely monitoring Yahoo's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Yahoo! Inc. is a global Internet media company that offers Internet services to users, advertisers, publishers, and developers worldwide. The company owns and operates online properties and services, and provides its advertising offerings and access to Internet users through its distribution network of third-party entities, as well as offers marketing services to advertisers and publishers. Yahoo owns the second largest internet search engine and provides email services to its users.

Yahoo! is currently trading -0.88% versus its previous trading session close, and it has calculated support and resistance at $13.68 and $14.52 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -1.08% from its previous trading close, which means that Yahoo! stock is outperforming the overall market.