Google Inc Daily (23.06.2014) Technical Analysis

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The Google Inc (NASDAQ:GOOGL) Daily Diagram Technical Analysis shows the following:

The ( GOOGL ) share has insert in a short downtrend channel lately. This resistance line is just on the top of the KUMO, which means that the GOOGL consolidates in long term. Both weekly and monthly diagram show a neutral behavior.

So the first think in mind is that $550 as you can see is a fair value in long term diagrams. MACD is neutral to bullish and RSI too. The volume has an uptrend.

We have a Friday close at higher high (yellow circle) with a candlestick like a hammer . The share has just got over the KUMO and is over the Tenkan Sen (green line) and Kijun Sen (blue line) too.

There is a cup with handle pattern over the EMA 200. The fib from $515.36 to $574.46 shows a 1.618 projection at $610.98 first target.

So I think that the critical point is the breach of the $574.46. If the share get over it the bullish trend will be here for a new uptrend.
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