Rolling Over To The Dowside
Maybe.
A couple of days ago, GOOG stock made a new high - not an all time high. The daily price turned into a reversal bar to the downside.
The stock traded higher during the day making a multi-month high, but closed down relative to the open and relative to the previous day’s close.
Two days later (today) the stock is down further.
I ‘ll look for support at the standard Fibonacci retracement levels; 38% = $385.66, 50% = 375.32 and the 62% retracement = $364.99. Additionally, I’ll have my eyes on the 20 day, 50 day, and 200 day moving averages.
