Chart of the day

GOOGL is extending higher after the bounce from 128. Support for this move higher bulls will find at 139 and the stops just should be placed below this.

This is still viewed as the long-term five-wave upside as the 128 support survived and to invalidate the extension higher and to completely reverse lower we need to see a break below 128.

Long trades are favored to be opened here with a stop loss below 138 and you can trade with options as well. We favor the long trade entries at this stage as we see an ongoing price action to continue higher after the strong support hold. Short trade entries could come only upon a confirmed break below 128.