johnatan hammer's  Instablog

johnatan hammer
Send Message
trading stocks, currencies and commodities for more than 10 years. allways happy to learn new things and anyone i meet can be a teacher. i love to use technical analysis as a primary tool for investments or trades.
  • Google, Beginning a Short Term Downtrend 0 comments
    Apr 6, 2013 11:34 AM | about stocks: GOOG

    Google's buyers are running low and more sellers are entering.

    it's created a "head and shoulders pattern which indicates that at the moment there aren't a lot of buyers above the levels of $817.

    furthermore it broke the support at $791 along with the trend line and the 21 M.A. which also acted as resistance at $817 (the top of the shoulders).

    volume levels have also rising for the past couple of weeks- simultaneously with the beginning of the downtrends.

    good chance it will try to hit next resistance at $740 as long as it stays bellow $791.

    heads up- we have a $21 price gap bellow that next support- it is very possible chance it will be close.

    (click to enlarge)

    Stocks: GOOG
Back To johnatan hammer's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

Latest Comments

Most Commented
  1. Nokia- Buy Opportunity ( Comments)
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.