Google has formed a weekly butterfly pattern that is now getting to the extremes of where the pattern usually trades. If price continues to rally further, this pattern will have failed. At the current price it gives us our best selling opportunity on Google.
Selling 1535. I'll keep stops above the high and wider stops a bit above 1600. First target is around...
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero line.
The oscillator Force Index is above the zero line.
If the level of resistance is broken, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1145.00
• Take Profit Level: 1160.00 (1500 pips)
If the price...
Looks like this recent move from GOOG has it heading towards its highs of 987. If it can breach that high from June, then 1030 is the next target, however 1000 is a significant number, so expect a rough ride trying to get through that.