Monday, 6 June 2016

Obvious Institutional Support for Google Inc

If the RTT Steps looks handsome, it can only be that the stock is well supported by the institutions.
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With the demand entering the market at the lower line of the RTT Step band is evidence that support is under the stock. In a high cap market stock this can only be the big boys! If you know this as a retail investor then you are on the right side of the trade. Or course when price breaks the lower bound step band then you know someone as broken ranks, the harmony of the stock is damaged and the Wyckoff composite man is not as it once was. Too much supply broke demand.

Inverting the chart allows the chart reader to see if shorting the stock is a better option, so far not so for Google Inc. Bob Evans regularly stated (in the tapes) 'turn the chart upside down' to check your trend, yes this approach does work well.

Goog



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