Less than three months after it hit $800, Google ($GOOG) topped $900, and is now on the brink of becoming the first tech stock to hit $1,000 a share. And with a slew of product launches in the works, the company’s reputation is getting a boost as well. Though we’re not ready for the risk of getting behind the wheel of their driverless car, we’ve got some low risk trades to reveal.
Trade of the Week
Google stock was extremely profitable when trading the shorter (daily) timeframe, only in the direction of the long term (monthly/weekly) – and with little downside risk.
Hawkeye has been long since October 2010! As you can see by the cyan arrow on the monthly chart.
The Hawkeye Perspective
Only take longs on your chosen faster timeframe (daily or weekly) when the price goes against the monthly then returns in the same price direction.
The cyan arrows on both the weekly and daily charts indicate when to enter with a minimum amount of risk.
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