2waytrading

GOOG's Bearish Trade Will Pay Off

NASDAQ:GOOG   ALPHABET INC
119 0 0
Earning was mixed but the street loved it and pushed the stock to a new YTD high but did not look sustaining specially after it closed weak on 2h chart (See last candle). Today, as expected the market was weak so the stock , gaped down buyers fought back but failed to penetrate last candle which was a weak signal, headed down, if it can hold $580 area where is expected the price to touch the ascending trend line which is now the support, a bounce is likely but wont last long. The direction is up and strong but for a QST was't bad call at all.

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