$GOOG | Watchlist | Buy Limit |
Technical Confluences:
- Price is at Oversold levels from 1H all the way till the Weekly timeframe
- Price just broke the 38% Fibo Retracement level (Orange)
- Price bounced off the 61% Fibo Extension (Blue)
- Price is also in a strong Interest zone; previously the highs of end-2021
- However, price has also broken through a Support trendline
Fundamental Confluences:
- No doubt, Google is a strong name in the tech and now, AI space
- Due to their dominance in many sectors, they are bound to face many kinds of regulatory scrutiny and lawsuits from anti-trust laws etc.
- Revenue streams moving forward may also be affected from the court's hearings
- Considering that Generative AI is picking up traction, will it impact Google's core internet search business activity? Google will definitely still be there just facing stiffer competition
-----
As market is consolidating and rotation out of the tech and AI strategy, I will also bide my time and not rush to get into holding this tech dominant force.
It will be wait and watch story and orders have been set to buy some within the $115 - $130 range.
-----
- Price is at Oversold levels from 1H all the way till the Weekly timeframe
- Price just broke the 38% Fibo Retracement level (Orange)
- Price bounced off the 61% Fibo Extension (Blue)
- Price is also in a strong Interest zone; previously the highs of end-2021
- However, price has also broken through a Support trendline
Fundamental Confluences:
- No doubt, Google is a strong name in the tech and now, AI space
- Due to their dominance in many sectors, they are bound to face many kinds of regulatory scrutiny and lawsuits from anti-trust laws etc.
- Revenue streams moving forward may also be affected from the court's hearings
- Considering that Generative AI is picking up traction, will it impact Google's core internet search business activity? Google will definitely still be there just facing stiffer competition
-----
As market is consolidating and rotation out of the tech and AI strategy, I will also bide my time and not rush to get into holding this tech dominant force.
It will be wait and watch story and orders have been set to buy some within the $115 - $130 range.
-----
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.