Google - Technically in Trouble
Trading genius Gartman explains:
GOOGLE: THE “POSTER CHILD” OF THE BULL MARKET PUTS ITS TREND TO TEST:
For better or worse, we look upon GOOG as the poster child of the bull move in equities, and there is no denying that it is testing…. and very seriously testing…. its long standing uptrend line at the moment. Support is strong between $438-442, and it shall take a close clearly below $438 to say that the trendline has been broken decisively. If it ever is broken, then almost certainly we will follow hard upon with overt, concerted sell recommendations on equities every where.
If the Generals go down the rest are sure to follow.
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Posted: March 21st, 2007 under Americas, Equities, General.
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