GOOGL reaches support

11 Des 2014

GOOGL retraced to the 523.65 support level of late April 2014. This level almost totally coincided with the lower bound of a large triangle that has been shaping up since the beginning of March 2014. Buy orders may be made slightly above this level, stop-losses are limited, beyond this level - take risk. Considerable growth of volumes points to the beginning of purchases starting from this level. The first rebound from this level will be toward 536, a falling trend. If the gauge breaks through this level, it will move toward the 562 fractal. Above is a triangle bound in the vicinity of 600.
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