GOOG Google daily chart shows a gap up in October that was never completely filled. This creates an island formation above and should an immediate island reversal occur, price would plummet to under 550 in a heartbeat. Also of interest is a potential H&S with a 650 head and 550 neckline. This is a difference of 100 so the 450 area would be a target zone. The H&S would only come into play if the 550 neckline is lost.
The chart has no positive divergence to give bulls any hope, in fact, the chart is very negative looking and a test of the 550 area looks inevitable. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.