Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Google Breaks Out But With Inverse Head And Shoulder Pattern

Google Inc. (NASDAQ:GOOG) spiked higher today, taking out resistance at $495.00. After blowing through this point, Google has continued higher, nearing the next resistance of $504.00.  This will be a solid level and may be trouble in the short term.  In addition to having broken through the first short term resistance point, Google has an inverse head and shoulder pattern that is in play.  This is a bullish pattern and could technically reach the $525.00 level before it completes.  That tells us that the upcoming $504.00 level of resistance will most likely eventually get broken.  Stay tuned for further analysis, guidance and education by joining the Research Center.

Gareth Soloway
Chief Market Strategist