Google Inc C #GOOG Stock Review and Forecast. last Price.$544.94. 06-04-2014.
Hi mates, How you doing?. Today I would like to review the GOOG trading idea I posted last month (Previous analysis).
For this analysis I have used a 4hrs chart.
Let´s see it.
Supports and resistances:
S1:$540 S2:$525 R1:$556 R2:$566.64
As you can see, the stock is inside an uptrend channel. And Actually is just in the low level.
The MACD is above zero and below the signal. In my opinion the MACD will bounce soon.
THe RSI is at 43% and the Stochastic is close to the oversold zone.
Elliot waves. The price is now finishing the IV Elliot wave ( upside serie) and probably will start to develope the V wave.
During the last sesion the stock touched the 38.20% Fibonacci Retracement and the AVG 20(daily chart red line). So it´s probably that will bounce in the next sesions.
It´s probably this stock bounce above $560 soon. So I recomend to buy this stock.
Let´s see the actual targets.
TG1:$576 TG2:$596 Tg Ext:$628
And the daily Chart.
The stock is falling for 5 consecutive sessions.
The MACD is above ths signal and above zero.
The RSI is at 52% and flat.
The Stochastic is close to the oversold zone a and will bounce soon.
For today I hope a Doji star, an inverted Hammer or a Bullish engulfing pattern (reversal patterns). I hope this stock will go up soon to the targets.
And that´s all. Please remember to click on some ads before you leave this blog. It´s important to maintain it!!. Thank you! :)