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| 5/7/99 Yahoo Inc (YHOO)
Points to watch: Yahoo's April spike peak was marked by a sharp negative divergence between daily RSI and price action, setting the stage for a pullback. Watch YHOO closely during the next few days. Daily MACD gave a sell signal on Wednesday and Yahoo has declined to an important support level. A strong support zone exists from 148-153 (the 38% retrace of the 9/98-4/99 rally). There is additional Gann angle support at 153.25. The stock has held this support on 2 prior occasions over the past 2 months. On a break below this support the next downside target would be 130-132 (the 50% retrace of the 9/98-4/99 rally).
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