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...
We expect corrections to the levels mentioned 1335 $ due to the end of the bullish wave
And the expected start of corrections
Recommendation: Buy order bending levels @1335$ stop loss below the bottom likely 1270.00 and open targets 1,500 and $ 1,700 an ounce
I have been playing with combining several different MACD time frames with RSI 3. I have noticed quite a bit of success when all the MACD's coil tightly around an RSI spike. GOOG has had several different harmonic patterns at what appears to be a top. These patterns also appear to be carving out a head and shoulders top. If the bat completes at the PRZ posted it...
Either Google places a double bottom on the daily, or we see a break down under $850. The negative divergence on RSI is not helping. Remember...stock price will tend to follow the indicator and right now things are leaning towards the downside.
You can see the short consideration here on the chart, and with this newest twist to the legal sagas, blocks, and bans no doubt some volatility will enter the arena. Sincerely, Beauty PS Follow me here on TradingViewPRO and my newest outreach on hashtag #BenzingaPRO posts too.
Previously on :
2013.07.25
2013.08.09
Price has broken down once it crossed the purple trendline and falls into the blue channel. This is now the current frequency that steers the direction and momentum of how the price will behave and move.
Careful once it hits the 1st target to expect possible reaction.
Google has formed over the past months a double top formation with a bearish divergence on the MACD. Price closed below the 100ma which acted as good support before, and also under the trendline drawn from november 2012. If it will close below the support line of the double top, we might see a good fall.
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