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Google: 848.29 A Strong Bet

By Stock MarketsJan 28, 2013 08:03AM GMT Add a Comment
 
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Another-weekly-close1
Another-weekly-close1

Although I’d initially said a two-day close above the 742.15 midpoint resistance of the pattern shown would make a follow-through to D=848.29 a good bet for Google (GOOG), I now see that it is the weekly chart that was featured, and that a two-week close above p is therefore needed to carry the day for bulls. Regardless, a buy signal has been tripped for ‘camo’ traders, even if it is unusable at the moment because the still uncorrected uptrend is just too steep. Any interval of tedium plotted on the 15-minute chart or less could yield the entry opportunity we’re looking for, so stay with it if you’re interested (and by all means please give me a nudge in the chat room if you see something that you think could work).
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