Last, but certainly not least, is search engine giant Google ( GOOG), a stock that's looking markedly more bullish than Johnson or Pfizer right now. In fact, Google looks a whole lot more attractive than most of the tech sector in 2013, rallying almost 27% year-to-date while other big tech names have floundered. So, how do you trade it?
After rallying hard in the first quarter and a half, Google has spent the last few months consolidating sideways in a rectangle pattern. That's not uncommon, especially after a big move. With GOOG's shares up so much since the start of the year, a period of sideways price action gives shareholders a chance to figure out their next moves.The rectangle pattern gets its name gets its name because it basically "boxes in" shares of a stock. The time to be a buyer comes when GOOG exits its box to the upside: more specifically, a move above resistance at $920. Momentum adds some extra confirmation to Google's upside bias -- 14-day RSI broke its mid-term downtrend at the start of this week, pointing to higher levels for GOOG. To see this week's trades in action, check out this week's Must-See Charts portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
Twitter and become a fan on Facebook.