In this week’s Swing Trade Stock of the Week video, we highlight the stock that everybody watches, Google.
The stock is putting in a bottoming formation and has now remounted the 50 day moving average. This is a healthy pattern that signals the “elephants” are building positions. A pullback to the moving average in the $530-535 range gives us a low risk entry, with stop placement under the breakout bar around $520. A target at $560 gives us a 3:1 reward to risk ratio, which is excellent. Even is we hit on this trade only 40 percent of the time, we will make big profits.
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My focus list is, market analysis and trade alerts are all featured in the Market Speculator Part-Time Swing Trade Report. If you would like to receive the swing trade report and alerts, sign up for the free trial. Follow me on twitter or email me at SinghJD1@aol.com
