On December 22, 2014 I posted a look at GOOG following an article which noted comments from a former Googler suggesting that 2015 would be a disaster for the company because of a number of points such as slowing search, increasing competition and international difficulties. At the time, the stock appeared to be reflecting said problems. I suggested then that traders avoid buying the stock unless it could get up around $560.
That level was breached last week and there was follow thru today.
I will remain biased to the upside unless/until price breaks down through $528 again.
Having broken through the top of the Value Zone to the upside, I suggest traders drop down to the Daily chart too look for entries on a price pullback or using your favorite indicator.
P.S. – Not sure I know what I’m talking about? That’s ok… At the risk of taking a victory lap, have a look here… and here… and here… After you look at those posts, be sure to check the current prices. No guarantee, that GOOG will perform as well as those names, but like them, it has to start somewhere.
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