Yelp Inc Stock Forecast
Green day on Monday for Yelp Inc
(Updated on Apr 29, 2024)
The Yelp Inc stock price gained 0.245% on the last trading day (Monday, 29th Apr 2024), rising from $40.82 to $40.92. During the last trading day the stock fluctuated 1.29% from a day low at $40.78 to a day high of $41.30. The price has risen in 5 of the last 10 days and is up by 2.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 441 thousand shares were bought and sold for approximately $18.05 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $40.28, a level that may pose a second chance to hit a runner. According to fan-theory $46.75 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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YELP Signals & Forecast
The Yelp Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $40.15 and $39.45. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -0.0733%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Yelp Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $38.29 and $38.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Yelp Inc finds support just below today's level at $38.29. If this is broken, then the next support from accumulated volume will be at $38.02 and $37.01.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.525 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (YELP) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Yelp Inc to open at $41.00, and during the day (based on 14 day Average True Range), to move between $40.07 and $41.77, which gives a possible trading interval of +/-$0.85 (+/-2.07%) up or down from last closing price. If Yelp Inc takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.29 (5.79%) than the support at $38.29 (6.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Yelp Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0400. We will update the financials statements for Yelp Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.31% in the first trading day after earnings release.
Is Yelp Inc stock A Buy?
Yelp Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.675 Sell Candidate Unchanged
Predicted Opening Price for Yelp Inc of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $41.00 ( 0.191%) | $40.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YELP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.52 | 1.47 % | |
| R2 | 41.32 | 0.98 % | ||
| R1 | 41.20 | 0.682 % | ||
| Current price: | 40.92 | |||
| Support | S1 | 40.80 | -0.299 % | |
| S2 | 40.67 | -0.601 % | ||
| S3 | 40.47 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.71 | 11.71 % | |
| R2 | 44.39 | 8.48 % | ||
| R1 | 43.29 | 5.79 % | ||
| Current price | 40.92 | |||
| Support | S1 | 38.29 | -6.43% | |
| S2 | 38.02 | -7.09% | ||
| S3 | 37.01 | -9.56% |
FAQ
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