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First, I’ll own up.


11-08 I drew the line for $GOOGL at 286.74; only talk once it gets above.
305.44 — It reached this level in just one week. My line was too tight, and I missed a whole move.
294.78 — Now, eight bucks above that line.
305.44 — The high at 11-13 22:00; it only touched this level once.
301.72 — An hour later, it opened here, and one candle slammed it down to 294.46.
8.89 million contracts — 2.82 times the average volume, the biggest bar of the week.
290.59 — The low at 11-12 21:00; that day also saw a dump of 9.78 million contracts.
1.95 times — Volume on this rally was lower than on the dump. I watched only the price and not the volume.
298.35 — The 20-hour moving average; the dividing line is right here.
Stuck below 294.78, I won’t buy; don’t treat this weekend price as the real price.
(Not investment advice; trade at your own risk)
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GOOGLGOOGL+0.11%

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Comment 3
GasJudge
298.35 in gas wasted watching the market
FriedRiceBro
This volume contraction is a bit puzzling—is it a shakeout or is there really no momentum? What do you think, blogger?
HeadShouldersObserver
Let's talk after the right shoulder is drawn