Alphabet Google GOOGL Power Breaks to New Highs
Alphabet (Google – GOOGL) continued its buy signal and uptrend with a clean breakout to new highs today, creating a bullish Trend Day.
I highlighted a Buy Signal for GOOGL which successfully achieved its breakout target today.
Let’s update our charts and note the new trade planning levels:
Again, start with last week’s post “A Buy Pivot Opportunity for Alphabet Google GOOGL.”
This post is an update which shows the stock successfully rallying to the upside target and then breaking above it to continue the uptrend as expected.
At this point, we remain bullish especially if buyers can push the price above $780.00 per share.
If so, it opens a clear upside pathway toward – and beyond – $800.00.
Stocks which are strong tend to get stronger and that’s proving true again with GOOGL.
Here’s the uptrend as seen from the Weekly Chart:
Note the prior examples of impulsive breakouts to new highs and how share prices performed.
Don’t be afraid to buy breakouts. Yes, breakout strategies are riskier than pullback strategies but that doesn’t mean you should avoid them.
Trust the power of the uptrend and the supply/demand imbalance which continues to push price higher.
Focus now on $780 and the upside pathway toward – and then above – $800 in this strong stock.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
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).
One Comment
Comments are closed.