themarketzone
Short

Triple top pattern with broken line that is about to be tested

NASDAQ:GOOG   Alphabet Inc (Google) Class C
Alphabet             will have its earnings this week.
$GOOG             chart has formed a bearish setup that can be used if you think $GOOG             is heading down after earnings .

1. triple top
2. Daily resistance zone
3. Broken uptrend line about to be tested (resistance now)
4. 78.6, 88.6 Fibs are considered reversal levels.

Considering the low volume rally and the strong resistance, it is an interesting bearish setup however earnings can boost this stock above 800$ so be careful if you choose to trade it.


Tomer Jakov, The MarkeZone (@themarketzone on Twitter)
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