Bullish Bounce in a Range for Google GOOGL

Mar 14, 2016: 11:18 AM CST

Google shares (GOOGL) surged off a wider range support, creating a stellar trading opportunity.

What’s the trade and target levels now? Let’s update our GOOGL Daily Chart:

Buyers failed to push shares beyond the $800.00 level in January (trap) just as bears failed to drop price lower in February with a breakdown under $700.00.

Therefore the $700 (floor of support) and $800 (wall of resistance) levels have become the key levels for traders to target – and initiate trades – within the broader uptrend.

The most recent long/buy opportunity triggered off $700.00 per share earlier in March, setting up an initial target to the Midpoint of $750 (achieved just now).

A full “Range Bounce” Target extends to $800.00 which is the upper resistance price in the Range Pattern.

Whatever other analysis or indicators you’re using in your trades, focus on the “departure” from $700 “toward” the upper resistance level at $800.

Price is currently on a “bullish pathway” within this pattern.

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Corey Rosenbloom, CMT
Afraid to Trade.com

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Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

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One Response to “Bullish Bounce in a Range for Google GOOGL”

  1. Google Shares Create Great Trading Opportunity Says:

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