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GOOG- a cup and handle in formation LONGGOOG on the daily time frame showa a cup and handle pattern beginning at the November 21 high from the uptrend out of the Covid "crash" Price has printed the cup and returned to the same price level of about 150 ; A handle is forming now. The cup and handle pattern forecasts a bullish continuation from that price level to the extent of the height of the cup. Accordingly, this would be from about $ 150 to about $220. Daily charts have high reliability as do cup and handle patterns. The RSI indicator shows strength in the 50-60 range so GOOG has a long way to go before being overbought. . Once price is over $ 150, I will initiate a position on GOOG shares and look to also take call options striking $150 for late 2024 or 2025.
NASDAQ:GOOGLong
by AwesomeAvani
Is GOOG ready for bullish continuation?GOOG has had a good month thus far rising about 9% and relatively strong compared with QQQ ( black line on chart) as shown on this one-hour chart. The past couple of days it has rested in consolidation at the upper volume shelf on the profile. The stochastic RSI has the lines low below the oversold /undervalued line of 25 and "curling up" suggesting they are about to cross. The 24 hour running average volume indicator shows stable volume at a level higher than April. No matter it may be overextended, GOOG has consolidated to base the next leg up. Its high liquidity and low spreads make for a long entry of stock or call options.
NASDAQ:GOOGLong
by AwesomeAvani