GOOG Pops Out Of The Moving Average Squeeze
Now you see what happens when a stock gets “squeezed” between two popular moving averages. The stock will often “pop” out and move decisively in one direction or another.
While the day is still early, less than a hour into the trading day, GOOG has gapped up today and is trading higher. The stock opened right at the downtrending 50 day moving average and is priced higher than the opening price, up $9.62 as I write this. The consolidation of the last month appears to be giving away to the start of a new uptrend. I’ll be watching for higher than normal volume today and a higher closing price for additional confirmation.
