If price fails to breakout upside from 10/18/2012 high, price may re-visit 695 or fill the gap. Above 760 on solid volume will suggest a new 52-wk high with target price $820. Good to wait now if you want to initiate a long position. If price breaks previous swing high 738.28, the stock will be a good short candidate with target price 695. Join us www.woowtrading.com
I would advise to take the short position right now and keep adding to the short position. Divergence has always been bad for Google. Check out past 2 boxes. Stop loss is @ 801 and profit point is at 650. 2/1 ratio. You can make your own stop loss but the profit level should remain the same.
I posted this chart 5 days ago and said short Google. I dont think the sentiment has changed a bit. I would still stay a short even if the earning are good cuz MACD has broke its squeeze to the downside.
