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GOOG Not Out of the Woods Yet



October 10, 2013 – Comments (0) | RELATED TICKERS: GOOGL

GOOG is by no means out of the woods yet - this stock is clearly in a distribution pattern if I've ever seen one.

There is a clear support level for this stock as it bounced for the third time.

If that breaks at $841, the bulls are doomed. Ok, not doomed, but they stand to lose a lot more on their position. So draw a red-line and know where you will bail if the stock crosses it (just don't let Obama draw the red-line - God knows he can't do that). 

Here's the Google (GOOG) technical analysis

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