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Tuesday, October 30, 2007 

GOOG $700 so near.......YHOO Keep the faith....

Chart courtesy of stockcharts

Shares of Google were up today nearly 2.5% or $15.54 to $694.77, reaching during the session a new 52 week high at $699.91. The daily chart show a continuation of the trend with MACD and RSI in the Bullish areas, the stock is in a strong bull market with both 50 day and 200 day moving average going up, however in overbought conditions. Stock may find some resistance to break a physiological mark $700.

Chart courtesy of stockcharts

YHOO - Profit taking continue today but volume decreased significantly, signal of a possible turn around at these levels. I'm still very optimistic on YHOO and on Alibaba.com IPO. This drop is always welcome after a Big run. If you look at the chart, we can see that the uptrend still intact, so in my opinion there is no reasons for alarm neither to have fear. With MACD above 0 and K line above D line, once the profit taking is over we should see the stock continue to go up strong. Keep the faith :-)

Chart courtesy of stockcharts

CCI may be ready to break !!
Looking at the chart stock has had a nice run over the past few weeks and again stopped at the major resistance $41.70. I'll be Bullish in this stock if breakout this area.

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.

That's All. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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