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12/30/98 Yellow Corp (YELL) Points to watch: Yellow is ready to break out of its 13 month downtrend. The stock moved above its 200 day moving average on 12/16, and on Tuesday it closed at a significant resistance level at 19 (the 38% retracement of its 8/98-10/98 decline). Upside Gann resistance exists at 19.56 (which YELL briefly touched intraday Tuesday), and strong resistance exists at 20. Downside support exists at 18.13 (Gann), 17.83 (the 200 week moving average) and at 17. Daily RSI and OBV are rising. Weekly stochastics and RSI are in uptrends. Weekly CCI and MACD have given buy signals. Buy on a break above 20, placing a stop near 18. |
