GOOGL
Alphabet, sideways channel & price on trendline analysisThe stock is consolidating in a sideways channel after a strong bullish movement. Now the price is on the mid-term bullish trendline. If the price continues higher and breaks the resistance level (987.00), the minimum target is around 1065.00. If the price breaks the trendline and the support it may start a strong bearish movement. The breakout must be confirmed by very high volume to avoid fakeouts or pullbacks.
The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
Reverse happening much soonerA couple days ago I published my predictions for Google. Sadly, it's happening much faster than anticipated.
GOOG: Go long at market open...I'm initiating a position in $GOOG at market open tomorrow. There was some kind of glitch, and the chart looks really funny, so I decided to post it for posterity. The folks at Zerohedge were gloating, looking at the stocks limit down after this glitch, it's actually just that, and in fact, trades that might have taken place were reversed as far as I know.
Either way, price hit support -before charts got messed up- so it's a really reasonable place to enter a 10% long position in $GOOG once more.
For reference, this is the way the chart looked on close:
Happy Independence Day to all Americans, and remember to go long burgers... www.zerohedge.com
Cheers,
Ivan Labrie.
Mister Google, is Donw now But,The giant is in trouble now already stumbled on his way over the 1000 points, but remember that while he stumbled and fell on the road, as every giant is powerful and can reincorporate again and continue on the road walking and recovered in the ;)
GOOGL on hourly potential gartley patternGOOGL on hourly completes a Gartley patten
at the 990.8 level and could potentiall pull back to 970s
GOOGLOur preference: sales position below 1010.00 with targets at 991.00 & 981.00 in extension.
Alternative scenario: in excess of 1010.00, aim for a continuation of the rise with 1020.00 & 1030.00 in line of sight.
Comment: The RSI calls for a continuation of the decline.
GPRO1) many rumors about a possible acquisition by SNAP (or some big...incoming tax holiday);
2) GPRO is at interesting price
3) chart: explanation in the chart
4) I'll be IN GPRO, waiting for entry point and looking for > TARGET A (first gap area +24%), TARGET B (second gap area +45%)
TRADE LONG SHORT LIKE A PRO, GOOG & BABAWithin a short to intermediate time frame, we see a potential upside momentum on GOOG while we think as a hedge, it might be reasonable to short sell BABA.
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Resisting the Temptation of GOOGL StockAlphabet's eight and a half years old uptrend appears to be nearing its end. The bears might drag the stock to $700 from now on.
The Up Trend is ToppingI prefer using log scale for high flying stocks. You can clearly tell Googl upward momentum is abating. We all know 250 advertisers dropped adds on youtube due to offensive content. Now googl is working on the issue but once you loose advertising you also loose pricing power. Getting advertisers back will likely come at a discount cost. Google faces lower add revenue will they seek to fix this issue.
GOOGL ready for bounce back to ATHGOOGL is the only tech stock that is lagging and it tried to bounce hard but some downgrades caused it to pull back. I believe it would try to re-test all time highs before earnings.
873.3 is the AB=CD pattern projection
874.42 is ATH
875.1 is the 1.618 projection of BC
GOOGL - Short Term Short to around 830, then LongAlphabet is showing us a number of technical patterns and is indicating that it is looking to go short in the near future.
Not only is it reaching all time highs, it also looks to be in the last leg of an elliot wave pattern that has already seen a 1-5 upward cycle and the first 2 cycles of the 3 step downtrend.
There is also a recent trend where in the middle of an upwards rally there will be a slight dip before it rallies upwards again. I think that we are seeing this dip now, which will continue to about 827 (fib 0.32) before rallying back to all time highs.
The fibo numbers look strongly correlated to performance here, with a lot of activity going around these areas, and given that we are on the 0.236 line at the moment I would suspect there will be some short-term volatility here too.
We're Going Long GOOG For A BargainAlphabet's (GOOG) stock has been trending upward for quite awhile, and we've
been keeping a close eye on it. We've raised our risk level on most of the
massively expensive tech stocks due to our views on the overinflated prices
from the "Trump Trade" since the election. Already, our speculation of the
market correction seems to be in-effect dependent on the next few days'
price action with the S&P 500 ETF (SPY).
But in the meantime, we think the short term outlook for Google is bullish,
and this evinced itself when it continued its uptrend with the break of the
last up-fractal at $836.26 on Friday, March 9th. Although the option
liquidity is not our most favorite spread width, we saw a recent catalyst
occur as well with the introduction of Gmail money which will likely crush
the likes of Venmo and potentially Paypal.
Not to mention, Alphabet's subsidiary Waymo filed suit against Uber for stealing trade secrets through one of Uber's recently acquired autonomous car companies "Otto". After reading the details of what the suit entails, it revolves around a former Google employee stealing designs of proprietary LIDAR technology and using it for his autonomous truck startup (which Uber acquired). The lawsuit will likely be a hefty sum, and due to the somewhat "smoking gun" Alphabet has from email traffic showing the design in question, the odds favor Alphabet in winning the proprietary suit down the road.
From a fundamental standpoint, the Google news about the Gmail money concept will likely drive upward sentiment to execute a further uptrend following strategy. So how are we getting this at a discount?
Here's the trade:
Buy 3x Puts; 7 Apr 17 Exp; $845 Strike $10.04
Sell 6x Puts; 7 Apr 17; $850 Strike $12.37
Buy 3x Puts; 7 Apr 17; $852.50 Strike $13.85
Max Risk: $495.00
Max Sweet-Spot Reward: ~$855.00
Max Reward Passed $852.50 Strike: $255.00
Our trailing stop will follow our middle moving average currently at $825.14
and moving upward.
