Google Sets Into an Attractive Base
I have a chart along with my notes on Google (GOOG) that I think readers should take a look at. The stock has been trading in a base since it broke to new all time highs in October, and now is setting up in a very nice base that could hand out a decent reward for those who catch its potential upside. First take a look at a chart of GOOG:
The first thing to note on Google’s chart are the two resistance lines, one at $480 and one at $492ish (or current all time highs). Buying with a heavy break above $480 would be a pretty effective spot to get in, or you can wait to get in if the stock breaks to new all-time highs. Either position allows you to apply a good stop loss and give yourself decent odds on your money. With this post I am putting Google GOOG on my personal close watch list and advise you do the same!
Happy Hunting!
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