Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Monday, December 28, 2015

GOOGL Continues Bullish Action

GOOGL is probably the only big name stock that continues to be bullish in both the long term, midterm, and short term.  

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Looking at the lower weekly chart, we see that GOOGL is using the more inclined green channel as its primary channel now, threatening to leave the blue channel as history.  Most recently, it is using its short term red channel to try to break out above its green channel and establish its short term red channel as its primary channel.  This is impressive especially in the current market environment. Whether or not it can keep going if the broad market suffers a breakdown is yet to be seen but you would be hard pressed to find a stock looking as determined to go higher as GOOGL is right now.

Trade well my friends


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