Long Position on YELP @ $40.50 on 1/10/2017 (Momentum)

Yelp Inc. (YELP) operates a platform that connects people with local businesses primarily in the United States.

Its platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others categories.

The company provides free and paid business listing services to businesses of various sizes, as well as enables businesses to deliver targeted search advertising to large local audiences through its Website and mobile app.

It also provides other services, including Yelp platform, which allows consumers to transact directly on Yelp; Yelp deals that allow local business owners to create promotional discounted deals for their products and services; and gift certificates products for local business owners to sell full-price gift certificates directly to customers.

The company’s Yelp platform enables consumers to complete food delivery transactions, book spa and salon appointments, order flowers, make winery reservations, and others.

It also serves customers in Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, the Czech Republic, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Mexico, the Netherlands, New Zealand, Norway, the Philippines Poland, Portugal, Singapore, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. The firm is scheduled to report its results on February 6th. 

52-Weeks Trading Range: $14.53 - $43.36

Entry Point: $40.50

Stop Loss: $38.00

Target Price: $44.55

Updates

2/2/2017 2:45:23 PM

We are taking profits on YELP.

Put options are being bought on the stock. A trader is betting $1.8 million that shares are going down. Closed at $42.61

Position closed on 2/2/2017 at price of $42.61 with a 5.21% gain in 23 days.

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