Trade Idea - Google
Thursday, January 29, 2009
Chart courtesy of www.stockcharts.com ( click to enlarge )

The stock has already recouped its recent losses and looks poised to break resistance at 340.80. The technical chart shows positive sign as the stock has been on the upside since Wednesday and the stock has been above the 50-day moving average since that date. A few more positive session could bring MACD back above 0 meaning bull market. Google is a good bet for a long player. Even in this economic enviroment the company continues to make a profit and is projected to do so in the immediate future. Its price/earnings ratios are attractive at this point.Let's keep an eye on it.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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posted by Pro Investor Trader at 2:30 PM | Permalink


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