CoreyM
Short

Diamond Pattern in Google says more downside ahead

NASDAQ:GOOG   Alphabet Inc (Google) Class C
Diamond Patterns in the stock charts typically signal confusion in the market place and more often than not a topping process that lead to reversals. Target prices are determined by subtracting the high of the diamond from the low of the diamond and then subtracting that gotten number from the area broken of the diamond pattern. $789.87 High -$663.50 Low = $127 Move Expected. The pattern broke down at $743 so $743- $127 Move Expected = $616 Target Price. My timeframe is less than a month to acheive. Stop is @ $720.
Trade closed manually: closed out at 50% fib retracement
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