Yahoo! ($YHOO) experienced a nice boost as confidence grows among investors with Yahoo! CEO Marissa Mayer at the helm. Yesterday’s Q3 earnings reported a 3rd quarter profit of 35 cents per share and revenue of $1.09 billion, trumping the forecasted profit of 25 cents per share and $1.8 billion in revenue. Mayer outlined a clear vision for Yahoo’s reboot, with its primary focus on the mobile sector. While giddy investors cheered the positive news and comments of the former Google executive, one must remain vigilant of rivals Google ($GOOG) and Facebook ($FB) who continue to dominate the mobile sector. Today’s NinjaTrader Chart of the Day, powered by the free end of day Kinetick data feed, showcases a daily Yahoo! Line on Close chart from mid-year until present. The Darvas Boxes applied to the daily price action are used by traders to normalize a trend and to indicate possible key areas to enter market positions. When price breaks the top of the box, traders may analyze this information as a potential bullish signal. Additionally, the Aroon Indicator, developed by Tushar Chande, is used to measure the number of periods since the most recent high and low. Both the Darvas Boxes and Aroon Indicators come preconfigured with all instillations of NinjaTrader. Yahoo! has been on a tumultuous financial and technological slump over the years, will Myers and her new C-Level cast be the answer? One can assume that Wall Street will undoubtedly keep a close eye on Myers’ vision and direction for Yahoo! in the weeks and months ahead.
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