GOOGL Technical Analysis & GEX Options Setup for February 26
📌 Key Observations from the Charts
1. Market Structure & Price Action:
* GOOGL had a sharp breakdown from the 185-187 resistance zone, dropping toward 179.
* Support Levels:
* 179.08 (current low)
* 175.00 (next major support & Put Wall zone)
* Resistance Levels:
* 182.74 (first resistance).
* 185.45 (Value Area High & previous breakdown level).
* If 179 fails, expect acceleration to 175.
2. Volume Profile & Auction Levels:
* Point of Control (POC): 179.43 → High liquidity area, acting as short-term support.
* Value Area High (VAH): 185.45 → First key resistance zone.
* Value Area Low (VAL): 179.08 → Key level to hold for buyers.
3. Indicators Review:
* MACD: Bearish, showing momentum to the downside.
* Stochastic RSI: Oversold but not yet rebounding—selling pressure still strong.
🛠️ Options GEX Analysis
* Call Resistance:
* 190-200 → High gamma resistance, strong call walls preventing upside.
* Put Walls & Support Zones:
* 175 → Highest Put Wall & Negative NETGEX (strong support).
* If price loses 179, it may quickly drop to 175 due to gamma exposure.
* Implied Volatility (IVR & IVx):
* IVR 29.7 | IVx Avg 29.9 → Neutral IV environment.
* Call Positioning 13.7% → Some bullish bets, but still weaker than put positioning.
📈 Trade Setups & Game Plan
🔴 Bearish Scenario (Preferred Setup)
🔹 Entry: Short below 179 confirmation. 🔹 Target 1: 175 (Put Support). 🔹 Target 2: 172-170 (extension move). 🔹 Stop-Loss: Above 182.74 (invalidates breakdown). 🔹 Options Strategy:
* Buy PUTS 180/175 expiring 1-2 weeks out if breakdown confirms.
* Debit Put Spread (Bearish 180P/170P for risk control).
🟢 Bullish Scenario (Less Likely)
🔹 Entry: If price reclaims 182.74, targeting 185+. 🔹 Target 1: 185.45 (first resistance). 🔹 Target 2: 190 (Gamma Wall). 🔹 Stop-Loss: Below 180 invalidates upside move. 🔹 Options Strategy:
* Sell 175/170 Put Credit Spread for a bounce play.
🎯 My Thoughts & Suggestions
* Main Bias: Bearish, unless 182.74+ is reclaimed.
* Gamma Risks: Below 179, strong gamma exposure can push GOOGL lower quickly.
* Options Play: Puts look stronger based on GEX positioning & technical weakness.
⚠️ Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. All trading involves risk, and past performance is not indicative of future results. Please do your own research and consult a professional financial advisor before making any investment decisions.
1. Market Structure & Price Action:
* GOOGL had a sharp breakdown from the 185-187 resistance zone, dropping toward 179.
* Support Levels:
* 179.08 (current low)
* 175.00 (next major support & Put Wall zone)
* Resistance Levels:
* 182.74 (first resistance).
* 185.45 (Value Area High & previous breakdown level).
* If 179 fails, expect acceleration to 175.
2. Volume Profile & Auction Levels:
* Point of Control (POC): 179.43 → High liquidity area, acting as short-term support.
* Value Area High (VAH): 185.45 → First key resistance zone.
* Value Area Low (VAL): 179.08 → Key level to hold for buyers.
3. Indicators Review:
* MACD: Bearish, showing momentum to the downside.
* Stochastic RSI: Oversold but not yet rebounding—selling pressure still strong.
🛠️ Options GEX Analysis
* Call Resistance:
* 190-200 → High gamma resistance, strong call walls preventing upside.
* Put Walls & Support Zones:
* 175 → Highest Put Wall & Negative NETGEX (strong support).
* If price loses 179, it may quickly drop to 175 due to gamma exposure.
* Implied Volatility (IVR & IVx):
* IVR 29.7 | IVx Avg 29.9 → Neutral IV environment.
* Call Positioning 13.7% → Some bullish bets, but still weaker than put positioning.
📈 Trade Setups & Game Plan
🔴 Bearish Scenario (Preferred Setup)
🔹 Entry: Short below 179 confirmation. 🔹 Target 1: 175 (Put Support). 🔹 Target 2: 172-170 (extension move). 🔹 Stop-Loss: Above 182.74 (invalidates breakdown). 🔹 Options Strategy:
* Buy PUTS 180/175 expiring 1-2 weeks out if breakdown confirms.
* Debit Put Spread (Bearish 180P/170P for risk control).
🟢 Bullish Scenario (Less Likely)
🔹 Entry: If price reclaims 182.74, targeting 185+. 🔹 Target 1: 185.45 (first resistance). 🔹 Target 2: 190 (Gamma Wall). 🔹 Stop-Loss: Below 180 invalidates upside move. 🔹 Options Strategy:
* Sell 175/170 Put Credit Spread for a bounce play.
🎯 My Thoughts & Suggestions
* Main Bias: Bearish, unless 182.74+ is reclaimed.
* Gamma Risks: Below 179, strong gamma exposure can push GOOGL lower quickly.
* Options Play: Puts look stronger based on GEX positioning & technical weakness.
⚠️ Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. All trading involves risk, and past performance is not indicative of future results. Please do your own research and consult a professional financial advisor before making any investment decisions.
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.
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.