Alphabet (GOOGL) broke out above resistance to a new 52 week high and a new all time high today. The SCTR has been gently climbing and pushed above 75 today. The Relative Strength is breaking out to new 8 month highs. The price cleared the narrow trading zone between $775 and $810.
With the volume accelerating on the breakout,it looks like a nice confirmation of the move. The MACD has been flattening out and crossed up from a nice low location giving it lots of room to expand.
Earnings are due out on October 27th, 2016.
Greg Schnell, CMT, MFTA.