Tuesday, January 7, 2014

Annual Trading Forecast on Google (2014)

Google stock (NASDAQ:GOOG) has been bullish for a few months. It is common for the price to enter a consolidation territory, remain there a little, and later break out higher in favor of buyers. This is what is happening right at the present.

The price, which broke out above the upper Trendline, has entered another consolidation territory. The market is moving sideways and it would soon break out further higher. The RSI period 14 has often stayed in the overbought area, showing the stamina of the stock. That indicator is currently above the level 60, heading towards the level 70. The price may reach the resistance line of 1300.00 this year. The dominant bias is bullish.

Conclusion: I’ve spent many years in trading profession, I’ve seen a lot of people who claim to have a lot of knowledge of the markets but who can’t trade successfully. I once thought that this stock was likely good; there seemed to be a lot of people who were interested in it, but I didn’t feel I was one of them. But now I am bullish on this stock.
Those who went long on Google since October last year would have harvested serious gains. The market would still continue going upwards.

This forecast is ended with the quote below:

“Unless you are a scalper, trading quickly and automatically isn't a very good strategy. It's much better to develop a realistic trading plan, and execute it consciously and deliberately.” – Joe Ross

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Eye-opening trading lessons: Lessons from Expert Traders

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