As the world falls apart around us as we enter WW3. Pacific Crest has upgraded $YELP, and has set a price target of $43– representing a 30 percent upside target. Analysts over at Crest note, “We believe competitive concerns over YELP’s relevance are overdone, while self-serve’s ease and utility are underappreciated,”
With all that gibberish above, the only thing I care about is the way the techincals are setting up in favor of the bulls. The stock recovered the 20 day moving average this morning after what looked to be a bearflag breakdown at the close yesterday. The shorts are in a vice with continued strength, giving the stock potential to squeeze.
The daily chart of $YELP can be found below, I’ll be watching for buyers to take control of the day. Come follow along inside our trading room Exodus:
