The Traderszone Network

Published in TZ Latest News 13 August, 2016 by The TZ Newswire Staff

Here’s A Trucker Looking For Gap Support

YRC Worldwide (YRCW) recently posted quarterly results that blew away Wall Street consensus estimates with EPS reported at $.83.  The estimate was for just $.51.  That news was well received by traders as YRCW gapped up and opened at 10.98 on July 29th and never looked back.  After becoming overbought, however, YRCW has pulled back and is approaching that key gap support level, while also nearing its rising 20 day EMA.  I’d look for YRCW to turn somewhere in this 10.98-11.14 range.  Check out the chart:

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