2024/11/20
Daily 4XSetUps - Battle For GAP In GOOGL Is In Full Swing
“the fight for the bearish gap has now been going on for 16 days!
can we create a bullish breakout? next week? In December? 2025?”
A trend reversal formation in August, September, and or even October, more or less, at times below the 100 SMA and 200 SMA trend line, is basically always bullish. And if the outbreak occurs even after quarterly figures have been published, as in our case, on October 30, 2024, this can be viewed as very positive. The battle for the lost bearish GAP is in full swing. And that has been the case since the announcement of the last quarterly figures, which the market, the majority of financial market participants if you will, have received very well. But the tech stocks have been declining somewhat since Trump was re-elected - they are fundamentally overvalued historically (in contrast to
“If you can’t successfully do something, don’t think you can tell others how it should be done.”
Ray Dalio
$182.49 : 2024/11/12 - 1st False Breakout Of Bearish GAP
$182.02 : 2024/10/30 - Intraday High On OR Release Date
$181.54 : 2024/07/23 - Bearish GAP High
$176.19 : 2024/07/24 - Bearish GAP Low
$174.71 : 2024/11/20 - last price action
$169.16 : 2024/08/20 - 1st High After GAP Lows
$168.64 : 2024/10/01 - 2nd High After GAP Lows
$168.40 : 2024/11/20 - SMA1 HL/2 Trendline
$163.80 : 2024/11/20 - SMA2 HL/2 Trendline
After an outstanding price jump after the last quarterly figures, even above the GAP in intraday trading, the share fell back again. And up to what price? Correct, more or less, to the interim highs, during the trend reversal formation, in mid-late August 2024 and also on the first trading day in October 2024. What was always just below the 100 SMA at that time - served as resistance zones at that time. In contrast to the 200 SMA, which served as support zones within the trend reversal formation. Why am I telling you this today? Because the price action above $169.16 and $168.64 is fundamentally positive. And, if it is held until the end of 2024 - which is what this long 4XSetUp is aiming for - it should be a good bullish start for 2025! But until then, the bearish GAP must be recaptured by us bullish traders and also investors. The terrain from $176.19 to $181.54 in order to remain clear in detail. And things are looking pretty good - but it doesn't seem to be easy for us bulls in the
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$190.00 - Target Price
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$174.71 - last price action
$160.37 - Entry Price
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$140.00 - Stop Price
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With best wishes
and with good intentions!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in
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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.