Trade - GOOG

There appears to be a trade setting up for GOOG.

Looks to be hovering on the 20SMA as resistance. IMO, it looks to want to break it. If it does, it will move to the high 550s or 560s.

If it does not, it will move to test the 520 level.

How I will play it... I have a position now. If it breaks upward, will close out the position in the high 550s. (And will look to buy back after market mid-term bottom is observed, ie SP500 reaches its 200SMA.)

If it breaks down, will double down at 520s, and double down again if it breaks the 520 level at 500. (I do not expect the 520 level to be broken downward.)