Forecast for GOOG

Forecast for GOOG

I thing Google is on the right track, chugging along making money. Some people were alarmed that one of the founders just sold some stock, but so what. He was just taking in some cash. Google just recently reorganized itself under an umbrella company, which I feel was a strong move because now Google didn't have to keep putting in strange losses in the balance sheet incurred from the other experimental companies that are not necessarily making money but are into R+D. I think Google is really in the market and is still growing.

So much so that in looking at the chart below, it almost seems that they are ignoring the market as a whole which is dropping and they are positioning themselves to climb. What am I talking about? Lets look at the chart below:

It is amazing that this stock is actually pulling this off right in the middle of the current economic market conditions. Yes, it dropped hard with everything else, but as soon as that immediate situation went by, it started to regroup and form a coiled spring while everyone else floundered and is still floundering around in the water. This tells me how strong this stock is and how focused it is. Like being able to lay out in a rainshower and still get a tan with just getting a few drips on you. Thats what Google is doing. I see a bounceback coming, and if the market is not in the middle of a huge crash, this stock is going to jump up then start climbing. Particulars: the Aroon indicator on the top of the chart is getting squirrelly and is looking to be seriously thinking of crossing the green and red lines, the candlestick chart itself is showing google to be forming a potential energy coiled spring which is rearing back and soon to explode with kinetic energy in the up direction, The ADX is on its way down, and when this crosses 20, this thing is going to zoom. The Williams is also approaching buy position.

With everything taken as a whole, GOOG is going to climb. But when? Anywhere from 2 to 3 weeks providing that the market doesnt tank. When would be a good time to add a little GOOGle shares to your portfolio? Late next week and early the following.

Tradinginsider