Google, now called Alphabet Inc. (NASDAQ:GOOG), has a
bearish signal on it. The signal is early enough for astute traders to catch a
smooth, long-term journey, to the downside. There is a potential that the
market would go further downwards from here.
The ADX period 14 is almost going above the level 20, which
means that while the momentum is not currently great, it is bound to increase.
The DM- is clearly above the DM+, showing that the bear has an upper hand. The
MACD (default parameters), has its signal lines and histogram below its zero
line. There is a Bearish Confirmation Pattern in the market, which means that
the price could experience a large pullback along the way.
Google stock would trend lower and lower this year, bringing
profits to seller and losses to buyers, plus buy-and-hold investors. Although
it would be nice to believe otherwise, drawdowns and occasional losses are part
of trading. We need to be objective. Small
losses should not turn our life upside down. Small losses might make us look
dejected, helpless and peevish. Truly, it does not mean all that have to do
with us are doomed since the effects are fleeting.
This forecast is ended by the quote below:
“Any successful, experienced trader will tell you that
although properly identifying buy/sell signals is important, it’s not the key
to being successful. Instead, the way you manage each trade is what will
determine your success.” – Andy Jordan
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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