SubscribeGoogle (GOOG) – Move Coming Soon to a Market Near You!
Ok…so we’ve beaten this stock to death recently. The reason why we like Google, other than the fact that it recently broke out of a long term consolidation period, is the fact that the stock is trading in easily predictable patterns.
In most cases, Google investors have seen one symmetrical triangle after another. For more information on symmetrical triangle analysis click here.
Now, compare the information from the link I gave you with the graph below. You will notice that I have already constructed the upper and lower triangle boundaries. It reminds me of an arrowhead. Also, you can see that I have drawn the major breakout from the previous trendline near the bottom of the graph, indicating that Google is and should continue to experience significant upward momentum in its share price.
(Source: Bigcharts)
Our Recommendation: Wait for the breakout from the recent symmetrical triangle for confirmation of the uptrend, then establish your position with an appropriate trailing stop loss.
We will keep you posted…
Good Investing…
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