Google is currently at the bottom of it's bullish channel and touching MA 20.
I expect it to move higher and test the major resistance at 760 in the near future.
17 & 15 were support took 1 long at open back up to 20 then a 2nd once it popped back up again holding only a tiny bit rejected 24.57 resistance to a tee
Google`s price action remains very technical as we can see from the chart. It has held its 61.8% Fibonacci level almost perfectly (red dot). The second technical signal that suggests the bullish price movement is the breaking of shorts (blue dot) and the very healthy retracement afterwards, which gave better entry for the bulls. With the second Fibonacci we have...
If price pulls back to 730 area or even below will give us another chance to enter long it looks this bullish pattern has a measured move to $850-$875 area. Price is under valued by at least 21% from its historical multiples though it had great week in which it gained at least $40. If you decide to take long position, make your stop loss at recent swing low at...
R1 at 78.6% FIB level. (My apologies, correction there on the R1 - Should say $744) If we clear that looking for a strong move to highs again this week. If not, rejection sends us back to the 20MA
lets see if we head back up the hill to work on the overhead gap, or roll over & work on filling the down side gap. *** plan ahead & be prepared for either scenario ***
