GOOG, Let’s Look at the Trading Parameters



Now that GOOG earnings are over with, let’s look at some trading parameters. So far I’m only seeing short term buy triggers in this one.  If GOOG can clear the 789.86 area along with the 797.00 swing high however, this would suggest an eventual rally towards bigger picture target which come in WAY above the market at the 866.51 area .  Of course this may not play out at all, but if we do start to see the clearing of the rest of the key resistance at the 797.00 area, I would have to focus on the buy side of GOOG again with the thought that the corrective decline from the March 6 high has terminated.   Risk can be defined below the 4/18 low at this point.  I don’t recommend entering any stock on new highs however, I do run my retracements and then wait for a pullback to keep the edge in the trade.   If you want to trade the buy side of GOOG earlier than that, you risk seeing a failure at this current resistance, so be mindful of the zone it needs to clear to continue to rally.