Well after getting on the Russia theme this morning, I took a look at Russia’s Google wannabe Yandex and liked the chart. Considering its relative value (though certainly not a value, being an internet stock) has been hammered down due to the recent geopolitical headlines. There is a technical setup here.
Using the SMA 50 and the noted support line, a buy at 30+ could work out considering RSI is green and MACD is just about to get there (I gave it the benefit of the doubt). There is not really a measured target taking shape yet, but for now a hold of the SMA 50 would target 34 to 36 and depending upon the Russia theme noted this morning, perhaps beyond.
I should note that one thing I don’t like is the gap around 29. One might wait to see if that gap fills before considering this trade.
Buy Target: 30 to 31
Sell Target: Conservatively 34 to 36
Stop Loss: Below 30 as suits risk tolerance.
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