Today we'll analyze the Stock GOOG for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 534.62$ (02/13/08) to 413.62$ (03/10/08) a 121.00$ move
2- The current bullish trend started from 413.62$ at 03/10/08 and is currently trading at 443.01$.
3- The stock current support level is at 442.18 which is the 23.60% fibonacci retracement of the last 121.00$ move.
4- The stock current resistance level is at 459.84 which is the 38.20% fibonacci retracement of the last 121.00$ move.
5- The Stock traded in a bearish channel identifed by support at 413.62 and 495.43, resistance between 534.62 and 574.49, the channel is currently supported from below by 403.394 and resisted from above by 477.663.
6- According to ADX, the trend is currently strong bearish, which is getting stronger.
Conclusion:
GOOG is currently trading a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 534.62, 459.84, 474.12, 488.40, 534.62, 567.53, 609.40.
Support Levels: 442.18, 436.07, 431.78, 428.32, 424.85, 413.62, 413.62.
We Moved!!
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Shadi
Friday, March 14, 2008
Google Inc. Technical Analaysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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