Google stock (NASDAQ:GOOG) is a bear market and that
bearishness is expected to continue for most part of this year. There would be
some transitory rallies along the way, which would pave the way for more
southerly journey.
In the chart, the ADX period 14 is around the level 30,
meaning that the current bearish momentum is strong. The DM- is above the DM+, showing
the bears’ hegemony. The MACD default parameters have both its histogram and
signal lines above the zero line – a bearish signal. There is generally a
Bearish Confirmation Pattern in the market and long trades are illogical.
Generally, the price may eventually reach the support levels
at 475 and 455.
Learn from the Generals of the Markets: Market Generals
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