2waytrading

GOOG's Bearish Trade Will Pay Off

NASDAQ:GOOG   Alphabet Inc (Google) Class C
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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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