Traders See Bullish Signal For Yelp

In trading on Friday, shares of Yelp (NYSE: YELP) crossed above their 200 day moving average of $70.38, changing hands as high as $75.28 per share. Yelp shares are currently trading up about 12.9% on the day. Yelp was founded in San Francisco in July 2004. Since then, Yelp communities have taken root in major metros across 27 countries. Yelp had a monthly average of approximately 132 million unique visitors in the first quarter 2014. By the end of the same quarter, Yelpers had written approximately 57 million rich, local reviews, making Yelp a leading local guide for real word-of-mouth on everything from boutiques and mechanics to restaurants and dentists. Approximately 61 million unique visitors visited Yelp via their mobile device on a monthly average basis during Q1 2014.
The chart below shows the one year performance of YELP shares, versus its 200 day moving average:

http://www.forbes.com/sites/joelkornblau/2014/06/13/traders-see-bullish-signal-for-yelp/