Google ($GOOG) Cup and handle forming, uptrend will continue….

(Click chart to enlarge)

(Click chart to enlarge)

Original Google post here (https://fctrades.files.wordpress.com/2013/07/goog714.png) where we said a handle would most likely form.  We’ve added this back to the long watchlist and will be watching for an entry next week.  Google closed above the key short term moving averages with the MACD about to cross bullish.   We are looking to get long this name over 912.5 (7/22 high).  Keep in mind now that $AAPL is starting to show some life, all eyes will be diverted away from GOOG….perfect formula!!

If we zoom out to the weekly view:

(click chart to enlarge)

(click chart to enlarge)

“The trend is your friend…”  Sometimes it’s easier to just grab a ruler and a pencil and draw some lines on the chart to figure out which side of the trade you should take.  UP trend continues after the pull back the last two weeks, only a matter of time before GOOG reloads and takes out 928!!

Disclosure: No position, but eyeing Sept 910C > 912.5

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