After yesterday earnings report the GOOG shares trade +8% after market. That, on fundamental side, is solid proof for good company performance and strong investor sentiment. Moreover, on the technical side the picture is further supporting that perception.
Based on the seasonal pattern GOOG has just started new bull leg, which usually lasts between 3-6 months and registers gains close to 40%. That gives indicative target of $1200 for the next 6 months.
Still keep in mind that the history does not repeat itself. As chart shows it just rhymes.
|Google enters new seasonal cycle|
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