Simple Pattern To Profit From Google

Discussion in 'Stock Market Forum' started by ParmMannTrader, Sep 29, 2014.

  1. ParmMannTrader

    ParmMannTrader Active Member

    Joined:
    Aug 2014
    Posts:
    32
    Likes Received:
    0
    For the last couple of months Google Inc (NASDAQ:GOOGL) has been trading in a channel. The channel basically started back in early August at a low of $567.45 and since then the stock has been going up and down in this range. Each time the lower end of the band is tagged, the stock gets a bid higher. When Google Inc (NASDAQ:GOOGL) hits the upper end, traders take profits and the equity has a subsequent sell off. As you can see from the chart below, today was no exception as the stock gapped down to the low end of the channel and buyers came in to give the stock a boost. If this channel does break, then Google Inc (NASDAQ:GOOGL) stock is headed straight for the daily 200ma. However, if the pattern plays out then this stock could be headed for the 52 week high of $614.44. Have this pattern on your charts and channel some good money.


    [​IMG]

    Parm Mann
    Elite Round Table
    Follow me on twitter: @ParmMannTrader
     
    Last edited by a moderator: Jul 8, 2016
  2. gowiththeflow

    gowiththeflow Senior Investor

    Joined:
    Jul 2017
    Posts:
    1,041
    Likes Received:
    8
    I think I read that $70billion was knocked off the share price yesterday! Advertising revenue is up 15% but not as high as the 24% last time. Looks like advertisers are moving to FB and Amazon - is Google worth a buy now?
     
  3. longtermbull

    longtermbull Administrator Staff Member

    Joined:
    Nov 2016
    Posts:
    1,720
    Likes Received:
    20
    Another hit for Google:-

    [​IMG]

    Funny how all of the old favourites with large premium ratings have been hit of late - Apple, Facebook and now Google.
     

Share This Page