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Google Inc. Message Board

  • stockineer stockineer Apr 6, 2013 7:21 PM Flag

    GOOG TECHNICALS

    I had a reader ask me to take a look at the technical chart and indicators of GOOG, so I may as well share with the board too. Basically, GOOG is a tough one to trade technically because of wild reactions come earnings time with gaps all over the place. However, for the past 5 years, GOOG has been trading in an ascending wedge pattern....and it broke out of it in March to the upside. The bad news is that it seems to have been a bull trap as the price could not hold and has fallen back below, all the way to the previous major peak. There was some bearish divergence on the momentum indicators that could have been used to foreshadow this, but the best indicator to help trade GOOG has really been the On Balance Volume (OBV) indicator. It has signaled buy and sells at each touch of it's trendline for the past 3 years. I've just posted the charts on Stockineer if you care to see the technicals and comment what you think. Good luck guys.

 
GOOG
528.77-1.82(-0.34%)Dec 24 1:00 PMEST

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