Are you trading Google (GOOG) on the stock market?
If you’ve been holding a long position in Google in the last few months you may have not enjoyed it so much.
This month was nothing compared with the great uptrends such as the months of september and october – when the stock moved up from 460 usd to 620 usd.
Just this week the stock is down from 630 to 608.
What to do now?
My personal guess is that the worse is over and it’s time to get in the trade – or hold on to your long position in Google.
From a technical point of view the outlook is neutral on the short term to bullish on the long term.
You can check www.stockTA.com for a full technical analysis of the stock moves. (It includes moving averages, fibonacci, RSI etc).
What’s the trend? (If not your friend?)
From a general point of view buyers and sellers can’t get on this week and the QQQQ is not indicating much.
On the news side, however it is clear that Google is operating on a promising market:
Google in the news:
Google to launch YouTube movie service in UK-NY Post
Morning Tech Wrap: Google competitors
Apple, Google, Spotify Plan to Extend Music Offerings
I am definitely long on Google and expect the stock to near 650 usd by mid or end of March.
Buying now some call options (April 600 Calls?) can be a very good deal if you make sure that you get rid of your options at least 20 days before expiration when the time decay gets faster and faster.
Tags: How to trade GOOG this Friday? Is this choppy stock market going to turn bullish or bearish? What is the technical analysis for the tech stocks and the Nasdaq in general?