The big news in Google is the announcement of Alphabet but these are the A-B-C’s of GOOGL stock.
Nearby support is at 657.66 – 666.67 and while above this zone the bias will remain bullish. (Zone A)
Any move below 651.55 would open the door for a move back to test the prior resistance, now support, zone at 580.92 – 596.55. (Zone B)
While a long ways down now, only a month or so ago GOOGL was rotating between this well-defined high-volume area (HVA) resistance zone at 580.92 – 596.55 and HVA support at 527.55 – 541.95. (Zone C)
The opportunity to get long on the move out of Zone C (long above, short below) was only briefly available for the well prepared traders looking at the kind of information provided by volume-at-price analysis. There was only the briefest chance to get involved on the long side before the most recent earnings announcement and giant gap higher that took the stock from 600 to 700 in a day.
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