GAP UP ON ANALYST UPGRADE, TESTING RESISTANCE, COULD TRIGGER NEXT BUY SIGNAL
NOTICE UPSIDE GAP TO FILL. TRIM/TRAIL/ADD AT FIB EXT LEVELS. BLUE ARROW INDICATE INSIDE BAR, BUY SIGNAL ON BREAK ABOVE PRIOR BARS HIGH.
Picked this idea up via Greg Harmon (dragonflycap.com). Instead of a Daily chart view, I looked at the weekly chart and plotted against the Fib from high in July to low in early-2013.
- Multiple resistant points shown at the Fib. 61%
- An entry is considerable if price breaks $74.40, Target at $78 even.
- Unable to call a Stop yet!
- Will continue to monitor...
Bounced off the Ichimoku weekly cloud on recent selloff. Showing oversold on CCI and stochastic as it has in the past. Will be watching if it pierces back through the cloud to the downside, would be out if it does. Would like to see if it can breakthrough resistance around 74.
While Yum has been seeing there after tax profit margins decrease, there cash flow has increased.
Last month the stock dropped from the $81 range to the 68 dollar range in one month.
Which is what I would like to point out, because the free cash flow is at 865 million dollars.
Inside the green trend line, price has been at the $68 dollar range but the company had...
On the weekly chart of yum, along with having the ichimoku cloud on the chart, you can clearly see that candle stick for 6/2/14 closed above 79.70 with the chikou span closing above that price level as well. Senkou span b is rising with the cloud. this gives strong indication for a very strong long trend.
