YRC Worldwide, Inc. (YRCW) has been pounded recently. The stock has fallen from a 52 week high on July 11th, 2013 of $36.99 to a low today of $9.23. The fact that the stock has fallen that much in a few months really has nothing to do with it being a good long. The key to the high probability of a bounce comes into play when looking at the daily chart and combining it with the massive fall. There is a gap window at $9.80 and a gap fill at $7.80. This range offers a major upside potential bounce. Small accumulating between these two levels should enable a very good average price entry and put traders in position for a nice upside bounce. Please note the high volume drop today as well. This very likely is telling us a bottom is near or at hand.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com