Google: Room to Head Higher

For the past two months, GOOGL has been stuck in a sluggish sideways phase, with even its latest breakout attempt quickly sold off. During the magenta wave [iii], we still expect a new high, though a direct transition into the subsequent wave [iv] remains technically possible. In our 33% likely alternative scenario, we would have to reckon with a significantly delayed continuation of the overarching upward cycle. In this case, GOOGL would still be working through the (intermediate) correction of the green wave alt.[4], which would bottom below the support at $147.22.