Googl.. where we standMy last post on googl (See below)
I showed you the rising wedge on googl at 200.. 25% later here we are..
This is a long term view. This the great reset back to the primary trendline..
This is logarithmic, logarithmic or log scale comes in handy to chart stocks or indexes that have made a parabolic move .
Here's the monthly trend
As you can see , with exception of the covid pump googl has respected this trend.. Now we are heading back to support.
Since 2009 googl has never broken it's monthly 50 SMA. The monthly 50 SMA + the long term trendline is around 128-135.00
Throw in a Fibonacci level from ATH and 2020 lows and you get a 50% retracement
That's my long term by zone for googl.. I wouldn't buy this stock until the 130's
I will update this later today with some actual tradeable analysis, this was just a long term view