Google shares have been moving from the rising channel that has been moving in since the beginning of the year. In a bearish movement that did not last long, the price is back at 1103.08 and is going up again in an attempt to return to the ascending channel.
In general, we are still in the bullish trend extending since the beginning of this year, but on condition that resistance breached 1125.71 which is at 50% Fibonacci retracement.
Moving averages support this bullish movement as we have a bullish order of the moving averages 7-20-50 below the price to give it stability and support to continue the upside.
Stochastic in the ascending channel gave a break signal and therefore we are expected to see price action towards the lower channel's minimum.
The range of motion between support 1083.00 and resistance: 1160.00.
