Monday, April 20, 2009

Google Downside Reversal? (Chart)

On Friday morning, I wrote Google Upside Blow Off.  It appeared to me that Google was blowing off to the upside and that a short squeeze was taking place. Friday's close was also suspicious.

Action today could be signaling  a downside reversal in Google. So far the low is in the critical 380 area. If 380 is breached it would signal additional downside in Google.

Short term investors should be extremely careful. Longer term investors need to be watching closely for a change in trend.

Google Chart 420
Google, Daily bar chart
Subscribe to All American Investor via Email
Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments.

Kindle 2: Amazon's New Wireless Reading Device (Latest Generation)

Follow All American Investor on Twitter