Google: Room to Head Higher
For the past two months, GOOGL has been stuck in a sluggish sideways phase, with even its latest breakout attempt quickly sold off. During the magenta wave [iii], we still expect a new high, though a direct transition into the subsequent wave [iv] remains technically possible. In our 33% likely alternative scenario, we would have to reckon with a significantly delayed continuation of the overarching upward cycle. In this case, GOOGL would still be working through the (intermediate) correction of the green wave alt.[4], which would bottom below the support at $147.22.
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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.