Amid the gruesome wreckage of today's market collapse following the political failure of the Treasury's plan to backstop credit markets, some blue chip tech names took a substantial hit. Apple (NASDAQ:AAPL)dropped 18%, closing at $103.75 after nearly dipping below $100. AAPL is a Stock Trends Bearish Crossover Prediction and has been on a Weak Bullish sell alert since the beginning of September when the stock traded at $160. Today's plummet through the $120 support level takes this darling stock out of our trend basket.
Also dropping significantly was Google Inc. (NASDAQ:GOOG). It dropped 12% to close at $385 - a price GOOG shareholder shave not seen in two years. However, GOOG has been Stock Trends Bearish for 29 weeks. The primary bear trend is solidly in play.
Another big name, Research in Motion (NASDAQ:RIMM), took a 14% shaving. After a big 32% drop last week RIMM became a Bearish Crossover (the 13-week moving average trend line penetrated below the 40-week moving average trend line) in the current Stock Trends report.
The NASDAQ Composite Index failed to move through resistance at the primary trend line during the summer, a failure that showed the tech sector's vulnerability to the current economic and credit conditions. Today's drop by the index below 2,000 spells a continued move south in the final quarter of 2008.
Showing posts with label Google. Show all posts
Showing posts with label Google. Show all posts
Monday, September 29, 2008
Wednesday, October 31, 2007
Google trend trading
Google Inc (NASDAQ:GOOG) has been a legendary stock since the earliest days of its IPO. It has not disappointed even the most hyped expectations. GOOG added to its golden image with today's close above $700. The model performance of the stock makes for a wonderful chart.
For Stock Trends followers, though, the first cue for entry in this winner was a year ago when GOOG had its most recent Bullish Crossover. The stock suffered a slight summer cold in the previous period (it went Stock Trends Bearish in mid-July 2006), so the Bullish Crossover signal in October 20, 2006 was the first reversal of trend for GOOG. The stock was one of the Stock Trends NASDAQ Picks of the Week then (at $459). Although just about any entry point has been swell to date for this darling stock, the summer period in 2006 was challenging enough to advise an exit - however temporary it turned out to be. Here the Stock Trends indicators helped direct investors when price trend shifted positively. Trading with the trend is the Stock Trends modus operandi.
Stock Trends history- Google Inc (NASDAQ:GOOG)
http://www.stocktrends.ca/stonline/history/?symbol=GOOG-Q
For Stock Trends followers, though, the first cue for entry in this winner was a year ago when GOOG had its most recent Bullish Crossover. The stock suffered a slight summer cold in the previous period (it went Stock Trends Bearish in mid-July 2006), so the Bullish Crossover signal in October 20, 2006 was the first reversal of trend for GOOG. The stock was one of the Stock Trends NASDAQ Picks of the Week then (at $459). Although just about any entry point has been swell to date for this darling stock, the summer period in 2006 was challenging enough to advise an exit - however temporary it turned out to be. Here the Stock Trends indicators helped direct investors when price trend shifted positively. Trading with the trend is the Stock Trends modus operandi.
Stock Trends history- Google Inc (NASDAQ:GOOG)
http://www.stocktrends.ca/stonline/history/?symbol=GOOG-Q
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