Stock Incubator

[dalcindo]

Re: Up-Grades ... GOOG: 36-Mo., Weekly Chart:

I continue to see growing overhead resistance for GOOG as it consolidates under the upper border of the bearish channel and remains under its 21-weekly EMA.

HOWEVER, there is also significant support ahead to make me a believer into the BULLISHness of this stock for the following technical opinions:

1 - Price continue to validate, but dwells ABOVE its long-term support line at the upper third of the bearish channel, resisting the pressure to break below that line;

2 - RSI is equivocal as it oscillates around the 50-line, but there are no clear momentum driving it towards a bearish range;

3 - A set of significant secondary indicators are coming together into a "Pre-Rally Pattern" formation, lending credence to the fact that current shallow decline is a consolidation happening prior to an uptrend.

OVERALL - Indicators are coming together to form a solid low at current price levels and indicating a likely rally over the next weeks, IMHO:


GOOG - 36-Month, WEEKLY Chart:


- Dalcindo