Google (GOOG) is trading within a Channel Down since the February 03 High. Last Wednesday the market formed a 1D MA50/100 Bearish Cross and today the price almost hit the Top (Lower Highs trend-line) of the pattern since the very start. The rebound that led to that was initiated near the 1D MA200 (orange trend-line).
As a result, we have entered the right conditions for the most optimal short technically. The first two Bearish Crosses have been highly symmetrical (-15.00% both) so if the Channel Down holds, we expect the third one to be similar. The presence of the 1W MA50 (red trend-line) gives a $260.00 short-term Target based on its trajectory.
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As a result, we have entered the right conditions for the most optimal short technically. The first two Bearish Crosses have been highly symmetrical (-15.00% both) so if the Channel Down holds, we expect the third one to be similar. The presence of the 1W MA50 (red trend-line) gives a $260.00 short-term Target based on its trajectory.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Funded trading -10% off👉 hyrotrader.com/?coupon=tradingshot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.