octradr

GOOGLE WHUHHHHHT!!!!!!

BATS:GOOG   ALPHABET INC
217 7 0
I haven't done anything on google             yet so I decided this would be a pretty good time since it has been in the consolidation phase since the middle of July.

The first line to notice is the red support line from the weekly chart. I find that the weekly gives a better overview of whether a stock is overall bullish or bearish . Since it is still over the line I would say it is still bullish . Because it is bullish I would look for an attractive price to get in a long position.

The second line to notice is the black support line from the reaction high back in March. Notice how both support lines (red and Black) are converging.

The third thing to notice is the MACD just had a crossover and this has been a good indicator for Google             so far.

Now here's the SKINNY!!! There is a possible downside back to support lines around 840. Thats about a 4% drop! I don't believe the stock will shoot up until it closes above 878. Until then I would wait and see if I could get in closer to 840. I am OK with a 2% risk so an entry around 856 would be acceptable.

If it does close above 878 I would have to reassess how strongly the move over 878 was and use 866.05 as the new support. If the move over 878 was really strong, then I would wait for a pullback because my target is around 927 and I want to buy low and sell high as they say.

Before market close 9/5/13

HAPPY TRADING!!!
sidhuxyz
3 years ago
wat is the other black dashed line at 866??
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octradr
3 years ago
The black dased line at 866 is a gap in the candles and was the short-term resistance line. Notice how the long green candle just blew right through it. That was a very bullish signal. Now this line could be used as a support line. The other support lines are much stronger though.
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octradr
3 years ago
The volume has been pretty low going over 878 so I would wait for a pullback. I am ok with missing out for being too cautious because I don't believe the risk warrants an entry yet. If the volume increases I will reassess again.
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octradr
3 years ago
It looks like it may come down to a better buying opportunity in the next week. 9/13/13
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octradr
3 years ago
UPDATE!!! If the MACD blue line crosses over again...BUY! 10/2/13
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octradr
3 years ago
Well it's back down to the pretty good support line but I haven't seen anything that makes me feel bullish yet. Let's wait a day or two and see if anything materializes. 10/9/13
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octradr
3 years ago
I hope you caught the MACD cross the other day because I said on 10/2 to buy if it does. Too bad I missed it. 10/18/13
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