Zillow Has My Attention

It's been a tight range today after the early morning push. Economic data was good overall, as well as the perceived good news from Russia. So, for today, good news is good news for equities. It seems as if a few of the mobile-driven social media type of names like Yelp (YELP) and Zillow (Z) are getting some play. The latter has my attention. (Quick side note: Twitter (TWTR), a possible bearish chart I mentioned last week, is still struggling a great deal.)

Zillow looks like it has $100 in its sights, and I expect it to happen in quick fashion. We have a nice rising bottom on the daily chart with a loose "W" formation. Today's push above $89 was the first breakout signal, so for folks who missed it, my approach would be to buy a successful retest of $89 or a break above $93. It is a bit frustrating to have a $2 "dead zone" in either direction, but it is tough to call an edge right here, right now. If I had too, I would certainly be in the bullish camp based on the very strong CCI and breakout in the RSI....186 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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