Hey there awesome readers! Here’s an update my technical analysis on the stocks of YUM brands (the world’s largest fast food restaurant company) which I posted a week ago. If you wish to see it, kindly click here. As I mentioned the last time, there is a bullish triangle formation on its stock chart and could be ripe for a breakout. Fortunately during last Thursday’s trading session, the stocks broke out from the triangle’s resistance (indicated by the red circle) and went higher. We could also see the $44.00 resistance has been cleared out as the YUM stocks are now making new highs. However, if it decides to head further north, there could be some selling pressure at the $48.00 price mark which is my personal target price (I got this by adding the base of the triangle to the breakout point). On the downside, the current support could be $44.00 then after that could be the triangle’s resistance. If those supports still don’t hold, the next area could be $40.00-40.50.
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
