Here's an interesting intra-day move for those looking for possible day trading opportunities.
GOOGL
broke above 701.31 resistance and filled the previous gap lower. Move is supported by decent volume accumulating on the buy side during the accumulation area between 684.40-700.00.
Look for a continuation higher keeping your eyes on order flow during the breakout. Preferably I would like to see a gap higher at the open tomorrow around 710.00-715.00 and a retracement to 701.31. Followed by consolidation at support in order to initiate a long position and possible swing trade up the next resistance at 726.46.
Long targets would be 715.00 & 720.00
If support does not hold tomorrow there is no trade for me to take. Happy trading folks.
Daily Chart:
GOOGL
broke above 701.31 resistance and filled the previous gap lower. Move is supported by decent volume accumulating on the buy side during the accumulation area between 684.40-700.00. Look for a continuation higher keeping your eyes on order flow during the breakout. Preferably I would like to see a gap higher at the open tomorrow around 710.00-715.00 and a retracement to 701.31. Followed by consolidation at support in order to initiate a long position and possible swing trade up the next resistance at 726.46.
Long targets would be 715.00 & 720.00
If support does not hold tomorrow there is no trade for me to take. Happy trading folks.
Daily Chart: