Sunday, April 10th, 2016

GOOG Chart patterns

The stock has been in a long term consolidation range since 2008. Recently broke out from the upper range at 650ish or so. Now the churning at the top is indicative of a Megaphone chart pattern which could lead to lower prices. That means GOOG will dive back into the channel here and go sideways or make another attempt to get past the upper ceiling now held at 675. The stock needs to take out 680 in order to convince bullish buyers here. Take a look and leave your comments. Click to enlarge chart:

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