NASDAQ:GOOGL   Alphabet Inc (Google) Class A
Google has been on a tear from the Dec lows, it has now hit the 786 retrace and has sold of quite quickly as a result. It had a initial inverse H@S on the macd and then on price action which provided a lovely opportunity to go long. Due to the increased fear of regulation on Big Tech and social media's role in the New Zealand massacre, sentiment has changed drastically on the stock. I have taken profit and will remain on the sidelines until some buy signals appear. There is a strong case to short the stock and look for a retrace to Target1 ($1142) T2 ($1110) T3 ($1078). Macd , Rsi and Stoch all point to further declines. The worst case scenario is that Googl has reached a market top and will not see a all time high for a considerable time , the development of a new H&S formation is a possibility with a downside target of $800 which is also long term support, initial near term support is at $1000.

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