Broken Support
Google stock took out some serious support today, and did so convincingly.
Here’s what the 60 minute chart for GOOG looks like:
The January 2005 low near $176 was broken within the first hour of trading. The first hour of trading today was decisively bearish. The first hour’s price bar was a large range bar to the downside.
Now let’s see what happens if the stock comes back up and tests what was support - possible resistance?
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