The Bearish Butterfly isn't ideal... But being combined with the perfect Bearish AB=CD could be effective. GOOG could potentially touch $940 or $960 before reversing; but the odds are very slim. I see a double top happening and lower we go. My first target is at $600, which might be the main target. I see a similar scenario shaping up with GOOG that happened with AAPL. It has become CNBC's and hedge funds love affair. Shouting $1000 price targets at the top of their lungs. Much like they did with AAPL and ISRG. Just like Buffet said be fearful when others are greedy.
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climbing_stars
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Just saw that lawrence page has been dumping shares since April of last year. Interesting...
climbing_stars
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I guess $960 is possible.
climbing_stars
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Oops posted the chart in the wrong spot.
StealthTrader
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Earnings will be the deciding factor
climbing_stars
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I see where your coming from. I don't let earnings reports effect my analysis too much though. I have seen earnings just confirm the chart pattern so many times. I have seen misses gain and exceeding fall. So I don't really let it affect my analysis. But that is just how I trade, to each their own. Thank you for your input, I do agree it will move the needle.