Google Inc Forecast




Monday, 24 September 2012
Google Daily Chart
Google Inc - Daily

EOD charts for Google Inc traded on the NASDAQ depict that the stock has been into a bull run since the 13th of September 2012. Though we do not see any significant Wolfe wave patterns on the chart, it is clear that the stock has entered into a bullish Camarilla zone, i.e. a bull run from the H4 resistance level (721.15) which is likely to pull up the stock till the H5 resiance level (757.15).
Traders can expect some more gains in the stock for the next few days depending on when the next Gann reversal occurs.
Gann studies for Google reveal that the next probable trend reversal date falls on the 23rd of September 2012 followed by 25/26th September 2012. Further dates are 2nd October 2012 which might come into action in case the previous reversal dates are not confirmed by the price movement of the stock. In terms of trading days, 10, 12, 13 and 19 rading days counted from the 13th of September 2012 are likely trend reversal dates. Any reversal will however require a confirmation by the proce movement of Google. In this case since we are looking at a reversal from  bullish to bearish, the closing price on the day following the reversal day must be lower than the low on the reversal day. We must also remember that reversal days can shift by a day on either side. Happy trading !!

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