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readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

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Alphabet Inc Suffers Distribution

Feather

There is something going on at GOOGLE.

Large down swings on high volume over the last 6 months. Kinda get the feeling the month end earnings report (April 27 2017) may have a few negative surprises. We have seen the stories that advertisers are unhappy with the shot gun approach used by google to apply advertising dollars. Some one is unloading!

A high volume downswing can be bullish if the damage to the trend is not too bad and are infrequent, but when you see 5 down swings where the volume is greater than the up swing, you just have to conclude prices are being held up by the market makers to allow some big whale to sell at very good average prices.

Our readtheticker.com customised OBV tool (RTTOBV-Trend (Daily)) shows the trend has changed for the price volume pressure as it shows divergence. Warning, and suggest to investors be careful out there!

It is true however the Wyckoff law of Effort vs Results would suggest with all this volume on the down swing and it has yet to do serious price damage it can be considered bullish. This is true, however it still is not a great sign, while other stocks can be considered as they show better price and volume action health.

The point is the next high volume swing, maybe a feather that breaks the trend.

Alphabet Inc. Daily Chart
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Investing Quote...

"At long as a stock is acting right, and the market is right, do not be in a hurry to take profits." ~ Jesse Livermore Trading Rule

"If it's obvious, it's obviously wrong." ~ Joe Granville

"It is better to have few stocks and to watch them carefully." ~ Bernard Burach

"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." ~ George Soros

"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong." ~ Bernard Baruch

 

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