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For the past decade this 38% Fibonacci level has been very heavy resistance for Yahoo, stopping it upwards progress two different times.
Could the third time be different with the assistance of Alibaba?
Sentiment towards Yahoo by Stocktwits viewers currently stands at 97% bulls. Over the past few months these investors have been spot on with this trade.
A breakout of this resistance line, would have to be viewed as a very bullish event.
