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For now, its going to be a wait and watch game. Of course, I haven't looked at any fundamentals, so this trade as always is purely technical.
Wolfe Wave - Google, Short by justatrader on TradingView.com
Shorting Google - Wolfe Waves
Its the earnings season and a time where stocks and make some big moves. I've been watching Google for quite a while. In the chart below, we see a bearish wolfe wave being formed. At this point in time, I expect price to drop to the region of 802.5 towards August 2nd, 2013.
There is a bit of risk though because the upside move shows a possible room to 920, if not more. To put it plainly, we'll have to wait for Google to reach the sweet spot between 950 - 920.55 before we can think of any continued sell off.
For now, its going to be a wait and watch game. Of course, I haven't looked at any fundamentals, so this trade as always is purely technical.
For now, its going to be a wait and watch game. Of course, I haven't looked at any fundamentals, so this trade as always is purely technical.
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