November 21, 2010

Unfilled GAP of GOOGLE

  • First chart is showing the GAP in Google chart from 547 to 591 and a broken trend line. Break of the trend line in daily chart led to a decline up to 581. Stock took support at 581 and started moving up but the broken trend line acted as resistance this time.
  • If price breaks 581 GAP will be reduced further.
  • Second chart shows a range between 581 and 600. If range breaks the lower line at 581 price may take support at 50 DMA which will be the right place to go long. On the contrary if price breaks 600 bulls need to close above 20 DMA for a bigger up move to take place.
  • APPLE WEEKEND UPDATE

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