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Oct 1, 2022 3:34 PM

GOOG Alphabet Inc. Technical Rebound Long

Alphabet Inc.NASDAQ

Description

If you haven`t sold GOOG at the top, when Ark Invest did:


Then you should know that a technical rebound refers to a recovery from a prior period of losses when technical signals indicate that the move was oversold.
In this case, the Relative Strength Index momentum indicator of GOOG is at 22.42.
Even though i am overall bearish on the economy, buying a strong financial instrument when the RSI is below 30, would make a case for a potential short term reversal.

Looking forward to read your opinion about it.

Trade closed: target reached

Chart went exactly as predicted!
Comments
competitiveChi74833
I agree with you on RSI being below 30% would initiate a small rally and then it would decide where to go based on current events
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Solldy
🤑 Great! Was looking through the asset and ideas related to it and held the same opinion. My opinion was only supported with the arguments of your idea)
vitsha
Are you sure for Long? I can't imagine how number 1 website in the world is falling so hard.
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