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Google Recommendation Follow-up

Mar 4, 2010 Technical Analysis, Trading Idea, Uncategorized

Two days ago on March 2nd, we published a post on the Navivest blog, in which we suggested that based on technical analysis, Google shares could be heading much higher.

The shares were at $542 then and today, they closed at $554.59, up 12 points since then. We still see some more upside although with the nice move in just two days, its never a bad idea to take early profits.

Tomorrow Friday before the market opens, we get some key economic news, including the unemployment rate for February.

Should the economic news releases send the market higher, we would hold on to Google shares and set tight stops, with an aim towards taking profits next week, but if the news is bad, then close out the Google trade.

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This entry was posted on Thursday, March 4th, 2010 at 5:13 pm and is filed under Technical Analysis, Trading Idea, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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