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Yelp Inc. Message Board

  • trading_god trading_god Feb 10, 2013 5:29 PM Flag

    How did I get $16 short term target?

    I know eventually this company will disappear or get bought around 200M down the road, but I have no patience. Money can be better spent. But I look for quick trade.

    What I look at is stock performance in relation to Nasdaq Index. Nadaq is hitting previous resistance level now. Where is YELP at? Not even close to resistance level. Sign of weakness, funds show no interests in buying, even traders turn away. It will wipe out indecisive holders next few weeks.

    No one knows where Nasdaq might be year from now. But either way, it has to consolidate around 8% from here. 8X3.5= around 28% sell off. YELP will outpace. YELP is above IPO level (ridiculously over bought) It will take this POS to $16 level. I am talking short term profit. Of course, it takes patience not to take profit too soon.

26.19+0.33(+1.28%)May 31 4:02 PMEDT