Googlelong
$GOOGL ATH!All time highs today after that morning shake-out. Looked a little bit weak at first but came back strong and held the EMAs. A close above 2430 was the queue for a larger move towards 2450 as it cleared the 1.618 Fib level and confirms the continuation of the impulsive move upwards. The open tomorrow should tell us if this was just a test of the highs or if it will continue running. Early morning flows and market close flows are telling of the bullish bias that whales have on GOOGL. Those sweeps targeted the 2430 weeklies at open and the 2435 towards close.
US Stock In Play: $GOOGL (Alphabet Inc)$GOOGL broke out of its trendline resistance this week, with an accumulated gain of +8.03% in 3 days. The breakout of $GOOGL comes after a full month of whipsaw that is witnessed on its 20DMA, along with a congested price action that is displayed within a Symmetrical Triangle chart pattern.
$GOOGL currently closed at $2239.03, with a display of a bullish flag formation targeting towards $2,350 level.
$GOOGL provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments.
GOOGLE -- It keeps getting stuckAs can be seen in the chart, there is a great squeeze in both prices and RSI. This is a bit scary of course ...
This tightness can continue up to the level of 2200$ or even 2400 $, but then we think it is very likely that we will see a big selling pressure for both the relaxation of the indicators and the completion of the technical formation formed by the prices.
We are not at the beginning of April anymore. It has been almost a year and the Nasdaq have an unstoppable rising. We wonder where will he stand ???
It contains only personal views and opinions. Does not contain legal investment advice ...
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🤔 Opportunity On Google? (GOOG)💰 LET'S GET INTO SOME GOOGLE ANALYSIS!💰
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(Overall Market Sentiment) 🐻 Bearish
- My main worry is that the longterm upward support has been broken and had a retest but looks like it could be rejecting off of it for a new Resistance and a lower low / lower high.
- I have a red engulfing crossover on the 12 hour with compression on the daily. The Crossover strategy is showing a Crossover all indicators to the downside.
- All 3 ema dots ont he bottom are red and have been red consecutively.
- I will be taking a short with a 1.5% stoploss.
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