This week, we will be watching GOOG as a long idea above the price of $625.91. This assumes that the stock does not gap ABOVE that price in the morning. There is some nice construction in the stock and a key breakout over that level, and we are currently only 5 bars up on our 4-bar lookback methodlogy, as the chart shows in green numbers. This means that there is still several days room to the upside, and in addition, there is a gap above that needs to be filled at $639.57. Here is a look at the chart with both the breakout entry line and the gap fill target:
We will manage this trade via Twitter if it triggers. Our first goal is to sell half at $627.10, and our initial stop is a close on a 15-minute bar basis under $625.00. Have a good trading week!
