kungfuguo
Short

GOOG 8/14/2013 EOD Analysis

BATS:GOOG   ALPHABET INC
89 0 1
Goog             just broke the support today.

Since May 2013, Good has been traveling in a broad upward channel, between $860-$920 range. There is a slightly upward support line (dot red line). This line has been consistently reliable. However, today, we see the first break down of the support line.

Looking at RSI , there is a nice support line as well, going back to late April. Again, today, there is a break down of the support line. In addition, we see a bearish divergence in MACD and RSI .

Overall, this chart would support a short term bearish thesis on Goog             . However, volume has been long in the past few trading days. I would like to see a higher volume to confirm this bearish view. I will neutral for now.
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