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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