Elliott Wave Training

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Showing posts with label GOOG. Show all posts
Showing posts with label GOOG. Show all posts

Tuesday, December 4, 2012

Elliott Wave Analysis of Google (GOOG)


This pair pushed a little higher than i initially thought and just pushed just above the 2007 highs, which was a natural place for buy stops, the fact that its declined in a 5 wave decline suggests that there is a very high probability that GOOG is setting up for a strong break lower

With a 5 wave decline and a potential 3 wave bounce to the 50% retracement and inside the area of the prior 4th wave of one lesser degree, this is a good spot for a strong reversal

The bears need to see a strong break under $680 then $658 to confirm the advance is a likely a 3 wave and more downside is expected

So this could be a terrific play to buy some puts, as the expected next move would be under $560

Friday, September 21, 2012

Elliott Wave Analysis of Google (GOOG)

Potentially this could be setting up for a reversal as i can count a 5 wave advance, and its hit a measured target, although seeing a potential 5 wave completion does not automatically mean a reversal, we need to see some price action 1st

A swift break of $720 can be used an the initial clue, but ideally the NDX will reversal, and an idea i am tracking from the June 2012 lows potentially could see a reversal on the NDX upon the next price high

I will be watching both the NDX and GOOG for clues