Forecasted to Reach New All-Time High with +14% Upside Potential
Hi Realistic Traders, let's delve into the technical analysis of
GOOG
Google has rebounded three times on the EMA200 Line with upward impulsive movement, indicating a continuation of the bullish trend. Additionally, it has formed a bullish chart pattern known as a falling wedge pattern. In March 2024, it broke out of the falling wedge pattern with a bullish full-body candlestick and higher-than-average 7-day trading volume. This higher-than-average trading volume is significant as it suggests increased market participation and conviction behind the price movement, reinforcing the validity of the breakout. Moreover, the MACD has made a bullish crossover, signifying a shift towards upward momentum. A bullish crossover in the MACD is a crucial signal in technical analysis, indicating a potential reversal from bearish to bullish sentiment. This occurrence is significant as it suggests strengthening buying pressure, often foreshadowing further upward movement in the price. Analyzing these technical factors, we forecast a potential upward movement to our designated target.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GOOG."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
GOOG
Google has rebounded three times on the EMA200 Line with upward impulsive movement, indicating a continuation of the bullish trend. Additionally, it has formed a bullish chart pattern known as a falling wedge pattern. In March 2024, it broke out of the falling wedge pattern with a bullish full-body candlestick and higher-than-average 7-day trading volume. This higher-than-average trading volume is significant as it suggests increased market participation and conviction behind the price movement, reinforcing the validity of the breakout. Moreover, the MACD has made a bullish crossover, signifying a shift towards upward momentum. A bullish crossover in the MACD is a crucial signal in technical analysis, indicating a potential reversal from bearish to bullish sentiment. This occurrence is significant as it suggests strengthening buying pressure, often foreshadowing further upward movement in the price. Analyzing these technical factors, we forecast a potential upward movement to our designated target.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GOOG."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Trade active:
the price still move above the upper trendline
Comment:
Gap Up on Alphabet's Stock
Comment:
All big tech stocks seem going nowhere this week, investors are waiting for the release of PCE Data
Trade closed: target reached:
Finally, it made a new ATH and exceeded the first target, Will it go to the second target?
Trade closed: target reached:
Exceeded the second target as Earning reports beat the analyst estimate
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