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Saturday, August 29, 2009

YRC Worldwide YRCW Stock Technical Analysis

The following is technical analysis on YRC Worldwide Inc. (YRCW) for August 31, 2009

YRC Worldwide Inc. (YRCW) Support and Resistance Levels - 8/31/09

Resistance Levels - $2.49, $2.64, $2.90, $3.00

Support Levels - $2.07, $2.00, $1.85



YRC Worldwide Inc. (YRCW) stock exploded above the $2.25 resistance Friday afternoon. For a trade, I will be buying a break above $2.50 with the expectation that YRCW stock will retest $2.90-$3.00 resistance. Pullbacks to the 10 day moving average also offer a nice area of support as well. The 10 day moving average ( currently $2.07 ) has started to turn upward and should provide a nice bounce if it is hit. This company appears as though it will avoid bankruptcy and if the stock can close over $3, it would be a big statement.

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