4mm4

GOOG long term = good

Long
BATS:GOOG   Alphabet Inc (Google) Class C
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GOOG looks good for a longer term trade:
- lower trend line support
- support of 0.764 fib level at ~ $650
- support at ~ $550
- stochastics setting up for a move upward
- 200 EMA suport ~ $565

False break out above all time high recently has set us up nicely. Wait for a good entry point as this trade may need a little longer to set up properly. Note that this is a WEEKLY chart and thus is geared towards a longer term trade. Be wary as the market is very sensitive right now. Any news from Europe or about the "FIscal Cliff" could send us up or down very quickly. Best of luck!

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