The Bears Have Attacked Google
Looks like the bears have their claws around GOOG.
This decline has the all the signs of a particularly nasty decline. It started with the daily price bars decreasing as the most recent top was made just five days ago. A couple of days ago we had a potentially bullish trading opportunity with Google making a reversal bar to the upside. But, the stock never followed through. Yesterday’s price bar was a down bar with a price range larger than the previous five price bars and today’s price was was an even larger range down bar.
It’s one of those declines that just kind of sneaks up on you.
The linked chart showing the last three declines.
If history is any indication, this down move is good for at least another $5.
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