Google Holds $100
The stock decided to follow along with the market today.
Today’s price action is a reversal of sorts. The stock made another new low along with a lower high, BUT the stock closed greater than the open and greater than yesterday’s close.
Timid bulls will consider buying as the stock trades above today’s high of $102.37 - assuming the stock trades above today’s high. If filled, the proctective sell stop goes below today’s low or Friday’s low.
Keep in mind that I typically skip trade setups like this if the stock gaps above the signal day’s high … see the comments made regarding this exact same setup at much higher prices … just scroll down to the comments made on the 26th and 27th of August regarding the “Gap and Trap".
