Divergence and shooting star monthly formationEarnings just came out and GOOG will gap down tomorrow. With only a few days left in the month, there is a good chance of an inverted hammer/pin bar on the monthly and a possible set up for an evening star/shooting star reversal pattern in Feb.
Break below 798 will confirm. Invalidate if today's high is broken to upside.
TP 700
Google (Alphabet)
Google - Sell this Bat pattern?Hey guys, google or Alphabet is gonna report their earnings next week.
With the S&P at a critical resistance, and a bearish bat(blue) on the daily chart of google, I expect a less than stellar earnings report from them.
If you decide to go short, do it before Jan 25th around current market price with your stop loss around 825.
Hopefully, a bad earnings report can kick start a correction for google back to 680 where Harmonic traders can go long on a bat pattern.
I do not try to predict news, I only trade based on Harmonic patterns and vanilla support and resistance.
If the earnings report comes out fantastic, price will breakout to the upside and this pattern will fail and hit your stop loss.
I will then continue to buy upon any retracement to this resistance turn support zone at 815.
WHY BUY TWITTER???TWTR , a big name in social media. But who wants to buy Twitter and why? Well what ever the reason is I am not buying it as it doesn't make sense to me how a general everyday service product should have such high valuation? I would but TWTR if it's under $10. Actually let me take it back. My valuation is around $1-$3 at best. Because Twitter didn't add value other then just like news media but more like in a personal level. But it didn't change significantly either. Also think it has more opportunities to work in collaboration with GOOGLE GOOG rather just buying out or selling out the whole industry. It can work out in conjunction to Google Hangout out. But better future of TWTR is with FB. It would be a great tool if FaceBook can buy it as FB already has so many user which functions almost like twitter. You should also see CRM SALESFORCE too, as a short candidate. I will publish a chart on Google too soon.
Ok guys, other then random thoughts let you know that when it reaches the upper read resistance line around $30-$28 or below, then it will be a good are to go short again with TWTR
I hope when I am going to twit this post, Twitter is not going to take it off from my post :)
Who wants to sell Salesforce???CRM Salesforce is gone. Even though it is trying to buy Twitter but don't think it will be successful as Goggle and other hungry birds are out there. Even if CRM buys twitter still there stock are sale because it's a falling knife. And if there is a bounce that means more to upload with short side. There are 2 green support lines from 2009. One has around $60 as a temporary support but think it may well go down to $30 zone which is a second green support line. But if it breaks that line then it may go well below under $5 if CRM cant fix revenue streams and profits.
Trouble in paradise Google is headed back down after getting close to the all time high. After thing past the 15 min. Looks good for a short. You can see with the arrows that this is over priced and headed back down to the 798 level. This is a multi-day trade set up. I don't see this catching on and becoming the floor so get in while you can.
FANGs - Wow. A lot goin on here.Busy chart, so bare with me. Bold call, but the more I look at the FANGs on a combined chart, the more I see an (incomplete) bump and run reversal (BARR) in blue.
A head and shoulders is present within a broadening formation in white, that gives room for the H&S to complete. Support in green, resistance in red.
Down.
TIME TO SEARCH in GOOGLEGOOGLE IS VERY STRONG, SO ANYBODY WANTS TO SHORT EVEN WITH OPTIONS MIGHT NEED TO HAVE IRON HEART AND GOD GIVEN TIME TO SEE THE DECAY OF THIS STOCK. BUT WHEN IT WILL FALL; IT MAY FALL HARDER BUT YOU NEED TO BE ABLE TO SEE THAT IT IS COMING AND IT MAY NOT HAPPEN ANYTIME SOON, SO HAVE patience. If it touches red line then probably good time to go short but it's monthly chart so you need to look in daily chart or weekly chart to pinpoint those zones as this stock is very volatile so you need to have iron fest. Green lines r historical support line so safe to buy but for short term unless it touches the green degree 1 line in relation to FIBONACCI.
Bulls getting bitten by the FANG tradeAn average of the FANG stocks tells an interesting story and serves nicely as a bellwether of market sentiment and investor's appetite for speculation. These stocks on average are trading very high price relative to forward earnings. Recent selling action suggest the market is beginning to doubt that these high flying stocks can live up to the expectations for future growth.
Technically it failed this month to reach the previous highs of last year. It's broken the lower trend line and rapidly approaching the 200 day average.
From here another 5% dropto the lower trend line seems likely
Exit from the short google call given today morning.
Dear Viewers,
The google movement to the downside happened as expected. But the price moved too quickly and I was unable to ask my viewers to exit at the 688.57 level. That is the level we were supposed to close the trade at. I apologize for the delay in posting the exit call chart.
Nevertheless, the price is still at 694.68 which is below the 697.50 at which we took the short. Exit the call.
I will make it a point to be more quick to post updates.
Thank you.