GOOGL in trouble. GOOGL breaks parabolic trend line on all time frames. There is a distinct H&S pattern as well very easy to see on the 3D chart here with downside target displayed on the chart. That should be first target. Second target displayed on chart in the circle as gap fill. Time frame hard to say, but I will be eyeing the weekly Puts on any gap up earnings as well as the following week, same goes for AMZN.
Note
My assumption is if AMZN goes into a Phase 6 over the next two weeks, GOOGL stays strong and develops a right shoulder for the H&S formation starting in Feb 2018, that would lead us to some serious downside targets perhaps early next year.
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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.