In spite of the bearish correction it is currently experiencing, Google shares (NASDAQ:GOOG) are expected to become dearer this year. Buyers will therefore, do well by following the example of the bull. A horse follows the example of the one put before it in a race.
The scenario on Google is bullish for this year. On the chart, there are the Moving Average period 21 and the William Percentage Range period 20. The price is above the EMA 21 as the Williams’ % Range is just heading down from the oversold condition. The condition on the Williams’ % Range and the current candle on daily chart (bearish engulfing pattern) give an opportunity to enter at a lesser price in the context of an uptrend. The Williams’ % Range is expected to revert back towards the overbought region as this expectation is fulfilled. The market was trading at 723 when this article was being prepared, and it would have no difficulty in reaching 730 eventually. We only need to safeguard long-term orders, be increasingly or decreasingly tricky. Neglecting this could claim our socks. Being risk-averse saves our socks in the long run.
This article is ended with the quote below:
“Any successful investor will tell you that the best profit potential lies in going against the crowd and conventional wisdom.” – Andrew Hecht
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