Stock Pauses
The free-fall halts!
Google didn’t continue lower today. Instead, today’s price bar forms an inside bar - a sign of indecision with the current downtrend.
Looking at the intraday chart shows that Google stock’s afternoon high is at the 50% retracement of today’s range. See what I mean:
Also notice the 62% retracement of today’s range coincides with the 38% retracement from Thursday’s afternoon high to Friday’s low. If the stock continues higher tomorrow, the ~$177 price level could act as resistance to higher prices.
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