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$YELP Crushed On Earnings, Here Is The Major Support Level

After the close of trading on Tuesday, Yelp Inc (NYSE:YELP) reported earnings. They were not good and the guidance was worse. The stock is dropping nearly 30%, falling close to $25 per share. Investors and stock traders are rushing to find the next buy level, the point where it will have a sharp bounce. Based on stock chart analysis, the buy level is $22.00. This is a major pivot support point as well as near a hard gap fill. For day traders and quick swing traders, this will likely be the bounce level. The upside could be as much as $2-$3.