GOOGLE update

07/16/2017 – well, the area defined below did hold and, thus far, show a lot of strength blasting off from this area.  for now, would look for 998-990 to act as near term resistance.  There isn’t a lot of form/structure to look for a pattern SELL so for now watch the numbers discussed in the last sentence.

Chart below is an intraday – 4 hour chart of GOOGL.

Hope your having a good weekend.

Bart

 

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I’ve spent some time over @seeitmarket working on GOOGLE.  This was my last post:

https://www.seeitmarket.com/google-stock-update-googl-watching-top-trading-15550/

As you are probably aware, it blew thru the target area. Now, it did spend roughly a year and half at the target level but in the end it blasted off.

Back to the drawing board …

Where are we now .. well, being a pattern dude and trying not to inject personal opinion I just try to call it like I see it.  GOOGLE has a nice pattern hitting … so if the bull run is to continue current levels or a little lower need to hold.

I tried (being the operative word) to give a realistic count.  Ha, that didn’t work … but I know where waves 1 and 2 are!  I’m going to keep the rest of the chart after 2 clear .. want to see what happens around the buy level above. But note the chart below .. some interesting stuff going on …AB=CD (blue arrows), Wave 1 equals the current wave .. and wave 1 *2.71828 exactly nailed the top (yes the natural log number – it’s a key number folks).  So, we shouldn’t be that surprised on the resistance found on GOOGL

Also, you know I love long term LOG trend lines.  As the chart below shows, we have 3 key trend lines … I recommend monitoring the blue and red lines.  the blue, from the polarity principle, SHOULD be strong support. If that breaks, then a move to the red trend line (the one that has been the key support for ALL advances) should get attacked.  IF WE BREAK BELOW (on a weekly close (?)) THAT TREND LINE THIS PUPPY COULD REALLY ACCELERATE TO THE DOWNSIDE.  So, monitor GOOGL closely.

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