Google and LinkedIn Try to Hammer Out Short-Term Bottoms

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

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:

Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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