Yelp Inc. ( YELP) is seeing its share trade about 10% higher in pre-market activity here on Tuesday as traders react to a report that TCS Capital Management is pushing Yelp to explore a sale of the company or a merger. 
Let's check out the charts of the service recommendation platform.
In this daily bar chart of YELP, below, I fail to see aggressive buying before today's news. Prices largely have traded sideways around the 50-day moving average line the past few months. Trading volume does not show an increase in turnover ahead of today's news. The daily On-Balance-Volume (OBV) line is neutral. The Moving Average Convergence Divergence (MACD) oscillator recently crossed above the zero line for an outright buy signal.
In this weekly Japanese candlestick chart of YELP, below, I see a picture that is more positive than the daily bar chart above. Prices have been finding support in the $28-$26 area for several months. YELP is trading above the 40-week moving average line. The weekly OBV line shows a rise from December. The MACD oscillator is just slightly below the zero line.
In this daily Point and Figure chart of YELP, below, I can see a potential upside price target in the $45 area.
Bottom line strategy: I don't know what shares of YELP may be worth in any deal for the company, but the charts suggest we might see a value around $45.
