This is not an ideal entry point.Some people are looking for cup-and-handle patterns as daily charts. They are not wrong. But they often overlook the duration of the pattern. In short, less than three weeks is too short. These patterns often come back down easily even if they break out like today.
If anyone asks me if this is the ideal time to enter, I will say no.
But I'm not pessimistic about Google.
Google is a good stock, and I think the stock will eventually go up. At least while the market is bullish.
So if you're a long-term investor looking into the distant future, there's probably no problem. Regardless of when you entry.
But if you're an investor looking for higher returns over the medium term using the chart, you probably have a better option.
