SubscribeGoogle (GOOG): Explaining the Pop
October 19th, 2006 • Related • Filed Under
The move today and the coming days are the result of excellent technicals. In the chart below I am looking at the 10-day hourly chart of Google.
With the recent jump to $435 per share, the stock has pulled back over the past few days. The good news is that this was a healthy step backwards. Now the stock is again poised to make a strong move up. As you can see, the stock has broken out from its parallel trading range while the MACD and DMI indicators below both agree that you should be adding to your position if you were still looking to jump into this particular play.
Source: Bigcharts
Good Investing…
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