waiting for a breakout from the down sloping flag to trigger a BUY signal and go LONG
Past instances of the 10MA Crossing Down Through the 20MA has led to substantial pullbacks in the past. Also worth noting that through out this rally the 10MA has managed to stay above the the 20MA so a crossover here may be an indicator of more downside if history repeats itself.
Today's performance was not bad, price did not close below Feb's buy point which failed to extend the next leg up but did well and now retraced back to that buy point though it violated briefly early morning as the general market did. Price opened weak, but recovered mid day and closed right at previous paying point $808.97 which now acts over head minor...
Goog has currently a Ascending Channel and the RSI is in a bullish mode. MACD also indicates a positive divergence. The balance sheet of Google looks really good. Keep in mind that they also have a nice emerging market exposure which is really good for the growth of the company. finance.yahoo.com finance.yahoo.com
Midterm Direction IMO Confirmation Was Not Given This Week
Possible Bull Flag Setup for one more push. 800 Still Key Resistance!
The pull back from today's close is real but how far it will correct is the main question. Volume was above average, but not great and took short position right at the close hoping the price will consolidate and give back 3% from today's close before it goes above $800. If you decide to short make your stop lose 1% above today's close with target price $750-$760....
Target & Google These two stocks have mirrored each other for 7 years so far with just a few instances where GOOG outperformed and then corrected sharply back down to TGT. This time, I'll imagine that TGT can ramp up to catch UP to GOOG. Therefore, buy TGT and sell short GOOG each day for the next 5 days. Build the position slowly as GOOG has strong price...
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
GOOG had a great buy signal this morning, and a sell signal early afternoon.
bot P/M long at 650 day trade scaled at 660 holding for 656 twitter.com