28-10-07 : A look at GOOG trendline

Let's look at GOOG again for this whole year. Its not hard to notice,
generally the chart includes 2 major trendlines, and 1 H&S inverted pattern (bullish), just before the 2nd and longer trendline.




We are still at the midst of the 2nd trendline. However, notice that from the breakout point, price has risen by $160 (520 - 680).

The channel before the breakout is a box of 440-520 ($80). Thus price has risen twice the box range. Its possible there's a retracement at this point. But its not confirmed until the trendline is broken.