Xander3

Will Google break the 2004 uptrend?

Short
NASDAQ:GOOGL   Alphabet Inc (Google) Class A
On a logarithmic scale Google has been going up in a straight line since 2004. And recently testing the trend again. Will it hold this time? Some indicators (could) tell it won't:
- Daily RSI is relatively high, upwards potential is limited
- Weekly RSI is still declining
- A big gap from 2013 around 445 is still open
- Recent trend is downwards

Others could indicate otherwise:
- downwards trend will be broken within a week or two
- upper gap level at 485 has not been broken
- Good results at end of January may change direction

For now I'm expecting short, but I'm awaiting confirmation:
When > 550 or breaking the downwards trend line my target will be 610
When breaking the 2004 uptrend I set my target to the bottom gap level (445).