Time sure flies. Historically speaking, YHOO looks very cheap compared to MSFT's original offer.
Yahoo officially rejected Microsoft’s $44.6 billion takeover offer on Monday, calling the bid too low, but Microsoft appeared to signal that it was gearing up for a long acquisition fight.
I'm guessing that nobody was ultimately happier that this offer was rejected than Microsoft. Yahoo proved to be a badly managed sink hole.
MSFT has now moved on. New products. New investments that will actually help them sell producdts (Dell) and new marketing tools.
Yahoo is on its own.
If volume is high like yesterday and tomorrow, a break above $23 could take it to $26 in a heartbeat. There is no resistance till $26 (after it breaks above $23 on high volume))