5 Star Review for Reviewer Yelp
- Posted by Greg Harmon
- on June 29th, 2016
Yelp, $YELP, is the go to app to find out about restaurants, shopping, bars…. you name it, it has been reviewed. It has been downloaded more than 10 million times and earns revenues of over $500 million each year. Who knew you could make money collecting reviews?
The company went public in 2012 and the stock did nothing for over a year. Then it rose rapidly to a high over $100 in early 2014. After a few months of back and forth in wild swings it decided definitively to move lower in September 2014. It continued on that path falling all the way back to its 2012 low earlier this year.
Now for the good news. Since that February low the stock has been moving higher in a rising channel. The 20 day SMA has been lifting it higher and just gave it a boost again Monday. The RSI has turned back higher and the MACD is flat but positive. The price is starting to poke over the December 31 high and with a move over Thursday’s high last week has resistance at 31.50 and then a gap to fill to 32.50 before resistance at 36 and then 42. It may not get to any of these prices but the path looks higher for now. I give it 5 stars.
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Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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