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Monday, August 01, 2005

Google – Heading to $300 or $280?

I read some of my favorite blogs and found that everyone is giving optimistic comments about Google (GOOG) at the same time.

Michael (Trader Mike) points out that GOOG is right on the 50 DMA and stohhastics show that the shares are oversold.

The Knight Trader says that "Google, Inc. the stock is getting oversold and sitting right at the 50 dma. If GOOG can get support at the 50 dma this might be a buying opportunity."

Roberto's NasdaqTrader:
"I picked up some (GOOG) call options here as the stock has held the 50 dma and the volume is light on this sell off. Stop will be right under the 50 dma."

Stephen Vita (Alchemy of Trading) in his Charts Of Interest about Google:
"Buy pullback to 50 day?"

I surely don't underestimate their knowledge and skills about technical analysis, I just don't like the situations where everyone gets too optimistic about a stock. It's 50:50 (or even 51:49 ;) ) for me at the moment. I see Google going down to $280 with the same probility as going up to $300. One thing I have learned by trading Google is that Google knows how to fool traders and it makes a lot of fake moves.


PS: Google is trading at $288.74 (+0.98; +0.34%) in pre-market.

See also:
Trader Mike: Charts, Charts and Even More Charts
The Knight Trader: GOOG Chart
Roberto's NasdaqTrader: GOOG Option Trade
Alchemy of Trading: Sunday Notes From The Trading Turret: Stra-Tee-Gerists

3 Comments:

Blogger . said...

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10/27/2005 09:23:00 AM  
Anonymous Penny Stock Newsletter said...

I would avoid stocks like apple computer and google not because their not good companies but because of their extreme popularity they are way over priced compared to stocks in general.

12/12/2011 02:11:00 PM  
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