Google Inc (NASDAQ:GOOGL) made a high in February and then pulled back to a bottom in May. Since then it has been tightening the range in a wedge now between 580 and 600. There is resistance at 598 and a move over that would target the Measured Move higher to 607. That is when it may get interesting. A move over 607 breaks the Ascending triangle and targets 700. The RSI is rising and remains in the bullish zone with a MACD that is moving up after crossing up last week. There is resistance 607 and 613 and then free air. Support lower may come at 580 and 570 followed by 550.
Trade Idea 1: Buy the stock on a move over 598 with a stop at 585.
Trade Idea 2: Buy the September 600 Calls (offered at $6.00 late Friday).
Trade Idea 3: Buy the September/October 600 Call Calendar ($11.70).
Trade Idea 4: Buy the October 605/630 Call Spread ($10.00).
Trade Idea 5: Buy the October 605/630 Call Spread and sell the September/October 570 Put Calendar ($3.50).
Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.