Here is the SharpChart:
GOOG - SharpCharts from StockCharts.com
Nothing much changed from my last post. We did in fact reach $415 a little earlier than I expected and the support level held. The BB's are tightening a little but not critical by a long shot.
Of course the bailout announcement had an effect to spike the share price up....
yea!!!! the fall is over!!!! NOT!!!
As you can see from the 5 day linechart from yahoo below....the trend is once more a negative drift as I predicted.
The P&F chart shows what looks like a
Bull Trap. This is where a stock looks like it is breaking bullish when in fact it turns bearish...a false alarm. Announcements like that bailout have to be ignored when interpreting charts IMHO.
So....barring another "magic bullet" announcement...this stock will probably continue as I said before.....negative drift which will test the $415 support level again {sigh}
