I’m looking at a possible secondary entry in YNDX (YANDEX NV, $37.28, off $1.50) after the original setup that is illustrated on the current daily chart of this stock. Note that the original setup in this one was a Fibonacci price cluster of support at the $35.23 – $35.96 area. We hit and held this area and there were some buy triggers for an entry against the zone. This was followed by a healthy pullback, yet we are still above the original support cluster. So far, this setup has only been worth a bounce.
What about now?? Well the pullback zone comes in at $36.50 – $37.22. My current plan is to see if price can hold above this pullback zone and we see a TRIGGER for a new buy entry. REMEMBER, if you do not see a buy trigger, stay OUT of the trade. For more information on triggers please use the guidelines document below. Bottom line, if we do see a trigger, the upside potential in YNDX comes in at $43.74. So hurry up and wait….Let’s see if this one triggers an entry or NOT!!