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Last Update: 7.30.14

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Related Article

6.27.14 “$GOOGL $GOOG “The 700 Club”

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6.25.14 Wednesday

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The Setup

1. Inverted H&S confirmation
2. Closed well above downtrend resistance (blue dotted)
3. Closed well above recent pivot (horizontal red)
4. Uptrend support held

The Initiation: Entered Calls @ $574.05 [8:33am CT]

3 minutes after market open, we initiate call positions.  As long as we stay above this pivot (see arrows) level of$570ish, I perceive higher prices.

The Run

Nice run up today.  I don’t see any major resistances until $610ish. Holding full positions. [divider]

6.30.14 Monday

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Looks like we are getting three days of short-term consolidation here and in that process, we have formed Bull Pennant continuation pattern. It’s a bullish signal if it breaks out to the upside.  This formation does suggest that we could breakout to the upside tomorrow.  If we do get that breakout next few days, I do think $610ish is where its going.  Still holding full positions.

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7.1.14 Tuesday

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So we did breakout of this Bull Pennant pattern today but not that strong, is it..? I don’t know if we are going to see a huge thrust from this point on, but I do think it can grind higher rest of the week.  Trend is up so we are just sticking with a trend here as I am still holding full positions since $574 (6/24 open). [divider]

7.9.14 Wednesday

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So this is the important level right here as we are trying to bounce right on that pivot level (red line).  If we can able to fill the gap at $590 with good looking candle, I do think the trend could continue higher next week.  Still holding full positions. [divider]

7.11.14 Friday

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Pivot level (red line) held and bounced. If we can close above $590ish, I do think we can continue higher, and get to about $610.  Daily fluctuations don’t bother me as I am sticking with the trend and my “big picture” analysis.   Holding full positions. [divider]

7.14.14 Monday

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1. Higher lows and higher highs
2. Inverted H&S still in play
3. We taking out recent resistance (blue dotted line), $610 next target

I think Google might have a great week this week as the technicals are starting to look more and more bullish. Holding full positions.

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7.20.14 Sunday

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Uptrend support still holding and well defined/established, and on Friday, we’ve cleared recent resistance (blue dotted line) after the earnings (we held through the earnings).  $615 is next major resistance but I think we may get a good week this week or the next for Google.  If we can close well above $615, I do think $700 is possible (see article here) as the long term analysis still favoring the buyers.  Still holding our positions.

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7.24.14 Thursday

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I have to say its been holding up well last several days right on that rising pivot level.  If we can sustain that pivot and move higher, I do think we can break above $610ish major-resistance. If we do lose this pivot, there is a good chance we come down to fill that remaining gap at $588ish.  Trend is still up and I remain bullish on it. Still long.

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7.30.14 Wednesday

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Not much to say today except the fact that uptrend support is still holding and higher lows and higher highs are still intact.  I think we continue higher if we can have just one good looking bullish candle right on this uptrend support.  Still long.

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GO TO PART 2

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