Technical Analysis Of Google, Best Buy And Cisco

Google Stock Technical Analysis: Likely to Breakout

Note: This Technical Analysis is based on closing price on 10th of February. For Latest Google Technical Charts See Here.

Google (NASDAQ:GOOG) stock price is testing the 100 day moving average. The stock had earlier formed a double bottom pattern. The pattern had started forming in early December with the first bottom forming on December 16th and the second bottom on January 12th. The stock had hit $540 level after breaking the $534 resistance level. However, facing resistance from 100 day moving average, the stock lost its momentum and declined. The stock is again testing the 100 day moving average. The MACD has broken above the ‘zero’ centerline, indicating a bullish trend. The RSI has been heading northward but is still below the overbought levels. The stock is also forming a triangle since January 23rd, and is likely to break out, breaking above the 100 day moving average.
GOOG Technical chart
Google Technical Analysis Chart by amigobulls.com

BBY Stock Technical Analysis: Resistance at $38.58

Note: This Technical Analysis is based on closing price on 10th of February. For Latest BBY Technical Charts See Here.

Best Buy (NYSE:BBY) has broken above the 50 day SMA at $37.07. The stock has initially crossed over the moving average on February 6th but had declined back to the moving average line on the next trading day. The stock is currently trading at $38.07. The stock has is still below the $38.58 resistance level from the upper gap. The RSI also indicates that the stock is currently in the overbought zone. The stock is likely to face resistance before $38.58.
BBY Technical chart
BBY Technical Analysis Chart by amigobulls.com

Cisco Stock Technical Analysis: Resistance From 50 day SMA

Note: This Technical Analysis is based on closing price on 10th of February. For Latest Cisco Technical Charts See Here.

Cisco (NASDAQ:CSCO)  stock price is testing the 20 day SMA and 50 day SMA.  The MACD is on the verge performing a bullish crossover, crossing over the signal line from below, indicating that the price is likely to break above the combined resistance from 20 day and 50 day SMA.
CSCO Technical chart
Cisco Technical Analysis Chart by amigobulls.com

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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