Technical Analysis & Outlook Video for Google and Yahoo Stocks Week 13 March
This week on Yahoo we can see that that we are moving from low up to high. We have a wonderful weekly supply zone up here at 4833-5041. Now as we look at Price moving from low up too high I think it’s important to realize the consolidation that is going on right now here on the weekly time frame where the bars are inside one another and they’re heavily overlapped looking for expansion to happen and to be honest with you I would really like a pullback back down to 42.59 demand zone before extending up to $48.33 supply zone.
For this week however, I think it’s important that we take a look at the daily perspective and really feel where we are in the grand scheme of things as we saw here on the weekly time frame we know that price is consolidated we are very very tightly ranged. On the daily time-frame, there are two levels support and resistance and daily zones that we have going on are highly overlapped.
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Looking at the 4 Hour time frame just for the support and resistance in the up and coming week again we are looking to the upside all but really we’re looking for a little bit of expansion to happen before there is a possible continuation to the upside. On the 4 Hour time frame I’m seeing nice confluence here at .4443-.4356. The 4 Hour time frame and the daily demand zones are in really nice confluence there, and I would like to see a pullback in order to get long if you are not long already. Bottom line, the trend is up and we should continue to look for the trend move to the upside into the big weekly levels before thinking that it’s going to go down.
Here on Google this week you guys can see that on a weekly time frame things look very bullish and it looks like we put in a new high this week we are retesting that high and $867 personally speaking I think it’s going to break that because there’s no reason to say that it’s going to fail to break that high so let’s not look to the short side until price tells us to do so.
Here on the daily time frame, you can see support really starting to stair step into the supply zones that we have here and can end that support level at $830.25 I think it’s a really good sign that the price very bullish. The question is where is a good place to get in? Therefore I would look for a natural flip of supply becoming demand for that to happen. I feel that that is starting to happen around the 834.25-825.11 demand zone. Bottom Line, price is in an uptrend and we should expect to see a rally here. But buying up here can be risky as a pullback is likely to fake out investors that are bearish as well as give us a gentle wave to possible get onboard.
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