GOOG vulnerable on weekly chart

14 thg 9, 2011

The chart is suggesting either this recent distribution from the $600 level back down to the $500 level is either stage 1 of a bigger decline to break under the last 52-weeks worth of trading OR I will consider this an accumulation level if prices don not begin to decline under the $480 level in the next 5 weeks. There is a good chance also that a weak, uninspiring rally towards the acceleration level around $560 could provide a much lower risk entry level, which of course, would provide a huge ratio of reward/risk since the target would remain at $470 to $430. I'd suggest staying "tuned" to this chart as it appears to be a nice diversification to other stocks.