GOOG


GOOG traders are also very cohesive and disciplined. This is looking back at its 5-yr history, weekly period.

Currently, it's retraced 38.2%, another fib number I love. It's simply beautiful.

The major downtrend broke to the upside, but it seems iffy from price action, RSI, MACD, and volume that it will continue here. 50% fib retracement would be at 500. That's also a good number. We are near overbought range, but it still could continue to go up.



There is possibly more that this stock could move to the downside. Looking at RSI, it's in a downtrend. As it hits the RSI resistance, it can pull back down, which is highly likely. RSI is looking to trade into a wedge pattern, so I wouldn't see a strong move downward.
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