Friday, July 22, 2005

Intra-day take on GOOG

As I type this, GOOG is trading right near its 20-day SMA at $299.05. This is both a buying opportunity and a selling opportunity. Let me explain. GOOG has not closed below its 20-day MA since March since the market bottomed this year. Guys like me trail stops under the 20-day SMA for slow trenders like GOOG, so when it's trading right on the line you can make a low-risk bet either way. Today's close will be interesting. I'll probably make a trade based on where GOOG is priced in relation to its 20-day SMA within 30 minutes of the close if it looks at all decisive.

5 Comments:

At 11:58 AM, Anonymous Anonymous said...

According to this chart from BullChart.com, it looks like support is at 292. It might be a buying opportunity if that level holds:

http://www.bullchart.com/DisplayChartBeta.htm?tickersymbol=goog

 
At 11:58 AM, Anonymous Anonymous said...

According to this chart from BullChart.com, it looks like support is at 292. It might be a buying opportunity if that level holds:

http://www.bullchart.com/DisplayChartBeta.htm?tickersymbol=goog

 
At 12:00 PM, Anonymous Anonymous said...

Sorry, this might work better:
BullChart

 
At 12:12 PM, Blogger jontait said...

Thanks for the chart. You're right about there being support at $292. The chart I was looking at when I made the post is this.

I can't believe how low volume today is for GOOG. This is not good for the bears so far.

 
At 4:09 PM, Blogger jontait said...

Follow-up: I didn't make any trades at all today. The volume on GOOG was too light for me to get much useful information from the recent price volatility after earnings.

 

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