Steady Trader Daily Hot Tech-Stock: Google shares gain momentum after earnings

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Steady Trader Daily Hot Tech-Stock: Google shares gain momentum after earnings

By serge berger — Author

Google - GOOGL

GOOGL shares rallied 4.18% last Friday after the company beat top line expectations in its second quarter earnings report late Thursday.

On the multi-year chart Friday's rally has moved the stock back into the middle of the up-trending channel after the stock held support at its 200 day moving average in early May.

On the daily chart, with last Friday's break past $595, GOOGL now has upside towards the $650 area. This is a measured extension target from the 50 percent retracement of the October 2013 - March 2014 rally. Any quick bearish reversal of last Friday's rally would negate the bullish breakout.

Posted to Hot Tech Stocks to Watch on Jul 21, 2014 — 7:07 AM

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{[comment.author.username]} {[comment.author.username]} — Marketfy Staff — Maven — Member

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