This Looks Serious
Google stock took care of the Fibonacci resistance levels I mentioned the other day.
But.
Recent price action - along with the rest of the market - indicates this could very well be a significant top.
First, the stock takes about the previous all time high set earlier in the month by trading up to $205.02.
Then today, the stock starts off by making a slightly higher high at $205.30 then failing.
The first hour’s price bar today was a large range reversal bar to the downside.
Interestingly, today’s low at the end of the day was just twenty cents above the 50% retracement. See the chart to see what I mean.
