GOOGL - Rejection?
Updated
Hello Everyone!
We have left GOOGL ready to break resistance at 1440 and fill the gap at 1478 but see what happened : price has bounced on 20 sma and break resistance, but in the end the high of the candle of 10th June was 1472....than it came back and didn't fill the gap....in my opinion this is a short term bearish signal.
Yesterday Nasdaq was down 5,01% and GOOGL 4,29% breaking below its 20 sma quite easely, even if today the pre-market shows the possibility of a recovery, we have to consider that after a down day lake this is unlikely not to see new down days, than we have to be prepared that the price will possibly find a sort of support at 50 sma or lower around 38,2% Fibonacci level at area 1290 which was previously resistance, this in case the market will continue in south direction.
A bounce at 50 sma will open the case for a new bullish leg.
Feel free to post a comment below if you like and...may the market be with us....!
We have left GOOGL ready to break resistance at 1440 and fill the gap at 1478 but see what happened : price has bounced on 20 sma and break resistance, but in the end the high of the candle of 10th June was 1472....than it came back and didn't fill the gap....in my opinion this is a short term bearish signal.
Yesterday Nasdaq was down 5,01% and GOOGL 4,29% breaking below its 20 sma quite easely, even if today the pre-market shows the possibility of a recovery, we have to consider that after a down day lake this is unlikely not to see new down days, than we have to be prepared that the price will possibly find a sort of support at 50 sma or lower around 38,2% Fibonacci level at area 1290 which was previously resistance, this in case the market will continue in south direction.
A bounce at 50 sma will open the case for a new bullish leg.
Feel free to post a comment below if you like and...may the market be with us....!
Note
Just bounced on 18th June on its 20 sma, a new attemp to close the gap left open at 1478 is likely to happen next. Faang as GOOGL look like have built energy during these latest days to a new leg higher.Note
Although FAAMG at all time highs, GOOGL still behind struggling to close the gap...we have to be aware this is a weakness...Note
Gap closed today
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