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GOOG: Now What?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Google Inc. (GOOG) rocketed in reaction to its Feb 1 earnings beat, which spiked the stock to an all-time high at 823.74. That is the good news. The bad (technical) news is that the new high was not confirmed by my intermediate-term momentum gauges, with the price structure above Google's June 2012 upper-channel boundary line at 772. The combination is (was) a prescription for a powerful, downside reversal into a correction. Although GOOG has reversed sharply beneath the upper-channel

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