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Thursday 17 October 2013

Google reports strong earnings & breaks record

Google reported strong earnings including a 23% rise in revenue that beat expectations after the market closed
Actual: $10.74 EPS (Earnings Per Share)   Expectations: $10.34   Previous: $9.03
Stock soared from 888.79 to 959.76, breaking previous record in after-market trading & is overbought

US shutdown ended, debt limit raised, QE tapering possibly delayed & S&P 500 reaching a new record might also be strong reasons for overbuying, therefore it wouldn't be very safe to buy or sell Google tomorrow, unless supports or resistances are strong enough

Trading Google will be at a higher risk as Google reached an all-time high & is in uncharted territory
Possible resistance @ 960, possible support might be @ 950 but we would need to watch the market's movement 1st before confirming anything

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