GOOG has been like AAPL...straight up from the summer. Until
recently.
With the massive selloff from $770ish to $680ish over the
past 3 weeks it appears the bubble has burst as people continue to look to big
gainers for profit-taking. Taking a look at the chart, it seems the carnage is
not over yet. Previous times GOOG fell hard on a pick-up in volume and then
consolidated sideways, it then moved again lower before finding a bottom. Currently,
the 100day sma sits below near $657 and the 200day near $633. Given how APL
tested its 200day sma today, I would expect the pressure to also continue tin
GOOG with $650 or lower to be tested sooner rather than later...
Something to keep an eye on in the coming days / weeks.
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