Who’s going to be the first to pay $1000??

(click chart to enlarge)

(click chart to enlarge)

Google made a new high on Friday with the MACD bullish.  Trending above the 10ma.  In Feb 2013, Breakout 1 highlighted on the chart ran from 774 to 844 for a gain of 70 points.  Breakout 2 ran from 844 to 920 for a gain of 76 points. So, hypothetically speaking if GOOG’s price history repeats itself, the price should run to 990/996 before a correction. This makes sense because who really is going to be the first to pay $1000 for GOOG?  In my opinion, 1000 will be a HUGE psychological barrier to crack. However, if GOOG decides to take a breather short term I have a possible cup and handle pattern drawn in, in which case a true breakout will eventually occur sending it to my price target of 996!

 

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One thought on “Who’s going to be the first to pay $1000??

  1. will GOOG be the next to fall prey to the curse of $1000? actually I would not be surprised to see a marginal break of the big figure and then down goes Frasier, down goes Frasier!

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