Don't Ignore This Chart!

Google and LinkedIn Try to Hammer Out Short-Term Bottoms


Google, LinkedIn and other momentum stocks fell sharply this month and became short-term oversold this week. Signs of a short-term low are emerging early Thursday as Google (GOOG) and LinkedIn (LNKD) trace out hammer patterns. Keep in mind that it is still early and these hammers are subject to change until the close. A hammer is a bullish candlestick pattern that forms when prices dip after the open and then recover to close near the open.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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