GOOG: Watch the $990 neckline
Technical analysis 101 wrapped up in one chart for Mr GOOG:-
#1 $990, a previously key resistance is now a key support level
#2 how crucial is the $990 neckline? It is the base of an expanding triangle formation more commonly known as the Megaphone pattern which is bearish in nature
#3 Where's all the volume gone???
I know there are some HODLRs out there for Mr GOOG but the writing is on the wall. Sell when you can, not when you have to.
#1 $990, a previously key resistance is now a key support level
#2 how crucial is the $990 neckline? It is the base of an expanding triangle formation more commonly known as the Megaphone pattern which is bearish in nature
#3 Where's all the volume gone???
I know there are some HODLRs out there for Mr GOOG but the writing is on the wall. Sell when you can, not when you have to.