Sunday, November 29, 2015

Google through the Elliott Wave filter

A sizable pullback in google is due. The stock seems to have topped at 762.50 on 23rd November. There is still a chance of a minor move higher  773 maybe to complete smaller level counts but the bigger picture is firmly in place and calls for a significant decline below 560 within the next few months.
From the daily chart below wave red V that started in Jan 2015 is complete with a 3-3-3-3-3, 5 wave ending diagonal.  

The Monthly chart below paints the larger 5 red waves and might be open to a later reinterpretation, but the short term view is still points to a significant decline.


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