by Shane Ormond
On May 21, 2020
Target reported that online sales on an average day in April exceeded last year’s Cyber-Monday sale, because if you’re not going to buy a Cuisinart Perfectemp 14 Cup Programmable Coffee Maker at the end of the world, when are you gunna buy one?
Yesterday, we looked at a Daily Price Chart of Aon Corp. and noted that the stock had been making a series of 52-Week Highs.
Today’s Chart is for Alphabet Inc. (NYSE: GOOGL).
Alphabet Inc. provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
The Daily Price Chart below shows that GOOGL has traded in a clear bullish pattern of higher highs and higher lows since early October.
Track the Price Chart from lower left to the upper right…
Now, typically stocks that make a series of two or more higher highs and higher lows reliably continue on in an upward trend.
That’s why GOOGL’s bullish trading pattern points to a further advance.
But it’s important to note that strong stock rallies have pullbacks along the way.
These pullbacks present a buying opportunity for us.
Purchasing GOOGL after a 3 to 5% price pullback has provided a good entry point for the stock this year, and has produced a healthy return.
We’ll keep watching GOOGL as it tops its previous highs and waiting for price pullbacks.
Maximizing Our Profit Potential
Additionally, we’d like to talk about how a previous Chart of the Day stock has done…
On December 16th, we highlighted iShares U.S Financials ETF (NYSE: IYF), noting that IYF had pulled back after being briefly overbought.
If you happened to have purchased IYF shares on that day, you’d already be up 3.65%.
But… if you had purchased the right option contract, you would be up 107.14% in less than two months’ time!
That’s why we focus on leveraging options in my premium research trading and training service, PowerTrend Options.
My “X-Ray” system — based on pure, technical analysis —is what I’ve used to trade options, win international trading competitions, and support my family for the past 30 years.
Members of my service even have access to my most extensive training program ever…
A 30-day PowerTrend Academy, that uses videos, quizzes, and glossaries to help explain my system from every angle. That’s because I want you to see exactly what I’m doing — no secrets, no patented algorithms. Just the facts.
Not to mention, the service itself provides up to two trades every week.
Because I truly believe, and from personal experience, that one option trade has the power to completely change your life.
But we know that some people like to walk before they run… and so we designed a class just for them, called the Thunderbird Options Course. Complete with syllabus, videos, and quizzes. Check out the details if you haven’t yet!
Editor, Chart Of The Day