i like google (GOOG), its an innovative company with lots of user friendly applications,
growing and entering new domains.
however,examining the stock sheds a bearish light on the stock,
i will start with the reasons and go on with the targets,
Google main bearish trend composers are
1. a double top around 715$ that couldnt be penetrated while being tested in DEC 2007.
2. a break of a support at 624$.
these two strong technical indications take the stock into a bearish trend in the mid-term,
examining the stock a bit mroe will give us a hint on the targets.
considering fibonacci retracements for the stock, show us that the target of the 50% retracement is 616$ ( which it already broke) while the 66% target is 586$.
ADX shows a strengthening trend, and RSI doesnt show any bullish sign yet.
concluding it all together, google, is short-term bearish with at a first target of 586$.
Friday, January 18, 2008
Google Inc (GOOG) Short/Mid Term Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
to get back to main page click here .
Subscribe to:
Post Comments (Atom)
3 comments:
Please let me know "How Can I learn more on technical Analysis of stocks?"
Regards
I know nothing about tech analysis, but i will bookmark this page and see how accurate your predictions are. if they are accurate, i have a job for you :)
Well there are quite many good books on the subject, i suggest you begin by googling the subject.
if you find yourself interested even more, you can take a course or two.
Post a Comment