Hello guys, hope y'all doing well. today I'll talk about Google and what happened with the stock last week.
Now if you check out on my chart up, you'll see that the price since (27 Jul "18) going down and this moves give us a clear idea about what movement of the price.
I said it before and I'll say it again, the major problem of Google is the Average Volume, I mean we talk about the 3rd biggest company in the world when it comes to the MKT-Cap size. and having about $1.760M of the Average Volume this is not right, anyway;
Now we can read from the last price movement that the $1165.92 is going to be powerful support level, and it's not hard to tell why when you look at the period between 6 and 24 of Sep "18. you can see how the price stick between $1165.92 and $1190.04 levels. so when the price get rejected from one of those levels shouldn't be a surprise. a specially when price come from an Overbought zone, you check out to the Stochastic.
Alright, so what the next move could be?:
Now look at the bands of the Bollinger and you'll see the Upper-line and Lower-line is a staring to expand and this is generally good to give the price bigger space to move BUT,.
But we have a problem, this expansion will be invalid for a reason, if noted at first I said that Google hasn't the good value of Liquidity (Volume) in the market, So even if the expand happened, the price need volume to push him up and down right?. So this is why I think that the price gonna act as the same as the last time he been in this situation.
in fact, The price has a lot of challenges like:
1) break $1190.04 levels
2) close above 20MA
2) keep moving up and try to close above 80MA
3) then try to make a correction path to...
4) break the last highest high.
So yeah, this is "my thought" about Google for the Next week, To the Next Sunday, have fun.
Now if you check out on my chart up, you'll see that the price since (27 Jul "18) going down and this moves give us a clear idea about what movement of the price.
I said it before and I'll say it again, the major problem of Google is the Average Volume, I mean we talk about the 3rd biggest company in the world when it comes to the MKT-Cap size. and having about $1.760M of the Average Volume this is not right, anyway;
Now we can read from the last price movement that the $1165.92 is going to be powerful support level, and it's not hard to tell why when you look at the period between 6 and 24 of Sep "18. you can see how the price stick between $1165.92 and $1190.04 levels. so when the price get rejected from one of those levels shouldn't be a surprise. a specially when price come from an Overbought zone, you check out to the Stochastic.
Alright, so what the next move could be?:
Now look at the bands of the Bollinger and you'll see the Upper-line and Lower-line is a staring to expand and this is generally good to give the price bigger space to move BUT,.
But we have a problem, this expansion will be invalid for a reason, if noted at first I said that Google hasn't the good value of Liquidity (Volume) in the market, So even if the expand happened, the price need volume to push him up and down right?. So this is why I think that the price gonna act as the same as the last time he been in this situation.
in fact, The price has a lot of challenges like:
1) break $1190.04 levels
2) close above 20MA
2) keep moving up and try to close above 80MA
3) then try to make a correction path to...
4) break the last highest high.
So yeah, this is "my thought" about Google for the Next week, To the Next Sunday, have fun.