Google Rebounds Bullishly

Google stock fell back to its 50-day/10-week line last week, then rebounded on Thursday and Friday. GOOGL stock is still actionable.

Video Transcript


- And we want to move on and take a look at big cap tech stock that has also graced the pages, I guess, you could say. Swing Trader and Leaderboard, here. They're still on the leaderboard, but bouncing off of its 50 day this week. So really good to see this big cap tech leader continuing to hold support.

- Yeah, it was not looking good, just like so many other things. The volume was getting pretty heavy on Wednesday. It wasn't the biggest volume on the way back, but it really was nice to see it. You know, it never got back to the buy point, so it found support just where you'd like it to. It's rebounded from there.

The RS line, doing relatively well. It's pretty close to highs, you know? It's pulled back some, but that's not so bad. Again, just like ASML, it had a prior uptrend as well. ASML was a little stronger, but, you know, it's not far from highs.

As you say, you could extrapolate. If it continues to outperform, it could go in there. So it was actionable from the 50-day line or 10-week line. It's really not too far off of that, so, you know, fairly nice action here.

- So a bright spot, both ASML and Google. Because by and large, technology and growth in these bifurcated markets have not really been favorable areas to be in. So interesting that these are showing strength.

- Yeah, it is interesting. Also, what's weird [INAUDIBLE]. Because you mentioned, well, why not just on the miners? Well, the miners actually had a tough week, and some of them had struggles. I mean, some of them looks just fine, but there's a lot of rotation back and forth. You just have to keep on staying flexible and paying attention to what's working.

- Yeah, a choppy market underneath the surface, even with the S&P and Dow taking a step back, looking fine, getting support where they needed to.