Google had a good bull run last year, making all-time high each & every day, but due to global cues in Jan end, it crashed 16% from the recent high in just 10 sessions, which lead to creating a supply zone at the top. It tried 4 times in the past 5 months to clear the supply zones but due to high supply presence, it failed 3 times, recently due to earnings euphoria it cleared the supply zone indicating to fresh the bull run.
Thanks to its great results which made it break the ascending channel.
It may consolidate till the demand zone (as per Fibonacci Retracement) & resume its bull run.
Thanks to its great results which made it break the ascending channel.
It may consolidate till the demand zone (as per Fibonacci Retracement) & resume its bull run.
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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.