My last post on googl (See below)
I showed you the rising wedge on googl at 200.. 25% later here we are..
This is a long term view. This the great reset back to the primary trendline..
This is logarithmic, logarithmic or log scale comes in handy to chart stocks or indexes that have made a parabolic move .
Here's the monthly trend
As you can see , with exception of the covid pump googl has respected this trend.. Now we are heading back to support.
Since 2009 googl has never broken it's monthly 50 SMA. The monthly 50 SMA + the long term trendline is around 128-135.00
Throw in a Fibonacci level from ATH and 2020 lows and you get a 50% retracement
That's my long term by zone for googl.. I wouldn't buy this stock until the 130's
I will update this later today with some actual tradeable analysis, this was just a long term view
I showed you the rising wedge on googl at 200.. 25% later here we are..
This is a long term view. This the great reset back to the primary trendline..
This is logarithmic, logarithmic or log scale comes in handy to chart stocks or indexes that have made a parabolic move .
Here's the monthly trend
As you can see , with exception of the covid pump googl has respected this trend.. Now we are heading back to support.
Since 2009 googl has never broken it's monthly 50 SMA. The monthly 50 SMA + the long term trendline is around 128-135.00
Throw in a Fibonacci level from ATH and 2020 lows and you get a 50% retracement
That's my long term by zone for googl.. I wouldn't buy this stock until the 130's
I will update this later today with some actual tradeable analysis, this was just a long term view
Note
So as far as this week goes . Google closed below it's monthly 20sma at 158.50.. the 20ema is at 159.00. so let's just say anything close to 160 will be tough resistance
Now go to the weekly .. you'll see googl closed right above it's weekly 100sma at 153.90
You put those 2 levels together and you get a range.
153.00 -160
If googl breaks below 153.00 then you short until 147 fib support..
For the long id wait for googl to break above 162.00 then target 168-170
Note
147 may be the buy here guys for a nice rebound to 171 by Early may..Of course stop losses below 146.00 very bearish closing below 146.00
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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.