GOOG Technical Analysis on October 29, 2024:Key Levels
Resistance:
170.75 - 170.72: Major resistance range where GOOG has faced selling pressure.
169.23 - 169.16: Short-term resistance zone. If the price breaks above this, it may test the higher resistance levels.
Support:
167.61: First layer of support, which could provide a bounce opportunity.
165.76: Stronger support level; a break below this could indicate further downside risk.
162.78: Major swing support; likely to attract buyers if reached.
Entry/Exit Points
Scalping:
Entry: Consider entering near 167.61 if GOOG shows buying interest. A break above 169.16 could provide a quick scalp towards 170.72.
Exit: Exit scalps before key resistance zones, like 169.23 and 170.72, or on signs of rejection at these levels.
Swing Trading:
Entry: Watch for a retracement to 165.76 for a possible entry, especially if price shows consolidation around this level.
Exit: Consider exits near the 170.72 resistance zone or higher if momentum supports a continued rally.
Directional Suggestion
Bullish Bias if GOOG can maintain above 167.61 and break through 169.23; this could lead to a test of 170.75.
Bearish Bias if GOOG fails to hold above 165.76, with the next support level being 162.78.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consider consulting a financial advisor before trading.
