February 14, 2011

CUP and HANDLE pattern of GOOGLE

  • There is a Cup and Handle pattern forming in Google's weekly chart.
  • Price is getting support from 20 week moving average. Sustaining above this moving average will result in a breakout.
  • Breaking above 630 and sustaining above this level may give the cup an handle effect to google.
  • Considering the size of the pattern a successful breakout can give good upward momentum for the stock.

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