Google Inc Forecast

Google Daily Chart
Google Daily
Google Inc, did confirm its recent reversal with a close at 585.98 and is set for a small bearish swing. While it continues its journey southward, what we can expect from the stock in the next few days is as follows.

As we can  see from the image, a significant Wofle Wave line (1 - 4) is the nearest support. This line may turn out to be a good point of support if it is reached at on a Gann reversal date. Important Camarilla supports are 572.6 (L3), 565.2 (L4) and 551.9 (L5). The stock has not yet entered a zone where the trend may be predicted using Camarilla strategies. However, it may soon break the L3 level and enter into a strongly bearish zone. As we can see, the 1 - 4 Wolfe line lies in between L4 and L5 and it is difficult to say which one will really turn out to be the reversing support.

As we combine these studies with the following important Gann reversal dates, we can get a clue about the duration for which the short position should be held.
Significant Gann reversal dates are as follows :

16/17th July 2012
23rd July, 2012

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