Google – A Long-Term View
During volatility, specifically during a bear market, it can be hard to focus on the long-term trends and longer-term view. I know as much as the next person how challenging it can be to watch your 401k balance take a hit, equities trade lower, and news headlines focus on negativity. But, it’s during those times that keeping the long-term plan in view is essential.
For example, look at this monthly Alphabet Inc (GOOGL) chart.
GOOGL – Monthly Chart – 5.11.23
Have you seen a gorgeous cup and handle pattern? I mean, this is beautiful. Of course, after the downturn we have seen, there is quite a bit of overhead resistance.
I have Fibonacci resistance zones at $122, $130, $145, and then at $150. So, it’s not without challenges. But, this is a bullish chart with incoming volume and a great momentum shift. This is why I’ve been buying this stock for the long term, and I’ll continue adding more.
Making Money with Charles Payne
I just stopped by Charles’ show to discuss what I’m doing with Google from here. Check it out on Youtube below:
If you want to learn more about the full trading setup, check out this video I made on Monday, before Google took off.