Google - Time to tighten stops and look for shorts
After the earnings report, google had a strong rally, the share price going over the 1000 psyhological level. The pair continued to go even further but 1040 held well 3 times.
Aroung this level, there are 4 bearish candles, including today, the first two candles being preceded by corrections.
On the weekly chart, those candles that penetrated the upper channel line and then turned back, are shooting stars as noted in the chart.
All the information points to a correction or a consolidation period. A close below the 1000 level would be a signal for a short.
Starting today i am no longer bullish on google, and maybe i will look for a short.
Aroung this level, there are 4 bearish candles, including today, the first two candles being preceded by corrections.
On the weekly chart, those candles that penetrated the upper channel line and then turned back, are shooting stars as noted in the chart.
All the information points to a correction or a consolidation period. A close below the 1000 level would be a signal for a short.
Starting today i am no longer bullish on google, and maybe i will look for a short.