GOOGL Weekly Outlook (Oct 28–31)

GOOGL Weekly Outlook (Oct 28–31): “Google Reclaims the Trend — Can It Hold Above $270?” 🔍

1. Weekly (1W) Structure – Macro Strength Reaffirmed
Alphabet’s weekly structure shows a textbook bullish continuation following a confirmed Break of Structure (BOS) above $207. After a brief Change of Character (CHoCH) pullback toward the $145–$150 demand zone, GOOGL reaccelerated upward, reclaiming control of the ascending channel. The move toward $270 marks a decisive momentum comeback with potential to stretch toward $285–$290 if buyers sustain pressure.
* Bias: Bullish continuation
* Support: $207 → $254
* Resistance: $270 → $285
* MACD: Clean bullish expansion — momentum firmly in buyer hands.
* Stochastic RSI: Hovering near overbought, but trending, not topping — indicative of sustained buying momentum.
💡 Weekly Thought:
As long as GOOGL stays above $254, the broader uptrend remains intact. Macro structure suggests strength continuation into November unless a deep profit-taking correction forms below $250.

2. Daily (1D) – Reclaiming Momentum Zone

Daily chart confirms multiple BOS and CHoCH rotations forming a staircase pattern of higher lows and higher highs. The breakout above $260 confirms a new impulse leg inside the mid-channel zone. Buyers reclaimed $256–$259, an area that previously acted as supply — now flipped into a solid demand base.
* Bias: Bullish trend continuation
* Support: $256 → $240
* Resistance: $270 → $280
* Indicators:
* MACD rebounded into positive territory — bullish crossover confirmed.
* Stochastic RSI climbing from midrange — confirming short-term buying pressure.
💭 Daily Suggestion:
Buyers can look for dip entries near $262–$264 early week. A sustained close above $270 may trigger acceleration toward $280–$285 as gamma and volume momentum expand.

3. 1-Hour (1H) – Intraday Precision Map

GOOGL’s 1-hour chart shows near-perfect alignment with higher timeframes. A clean BOS structure sequence forms above $259 and $265, with the price consolidating near $270 — a key resistance-turned-potential breakout pivot. The current slope of the ascending trendline supports a healthy, controlled climb.
* Scalp Bias: Bullish above $262
* Resistance: $272 → $280
* Support: $259 → $249
* Setup Idea:
* Call scalp: Above $270 breakout; target $275–$280.
* Put scalp: Only if price falls below $259 with volume, target $250.
📈 1H Thought:
Intraday traders should monitor price behavior at $270 — this zone is both a psychological and gamma-based resistance. A breakout with strong volume could ignite an extended move to $280 quickly.

4. GEX & Options Sentiment – Institutional Positioning

Gamma Exposure (GEX) reveals a strong call-dominant structure, with layered resistance near $270–$280 — key short-term gamma magnets.
* Highest positive GEX / resistance: $270 → $275 → $280
* Support (put walls): $250 → $242 → $235
* Call bias: +35.8% (bullish skew)
* IVR: 46.6 (moderately elevated)
* IVx avg: 49.8 (slightly declining → supportive of upside expansion)
Institutions appear positioned to defend $255–$260, while higher strikes near $275 are drawing increasing call exposure. Gamma compression could trigger a grind higher if $270 holds.

5. Suggested Option Plays
* Bullish Setup (Preferred):
* Buy-to-open 270C–275C (1DTE/2DTE) on confirmed hold above $270.
* Target: $280
* Stop: Below $259
* Reason: Strong structural breakout confluence with call gamma reinforcement.
* Bearish Hedge (Cautious):
* Buy 250P (1DTE/2DTE) only if breakdown below $259 with volume confirmation.
* Target: $242
* Stop: Above $265

GOOGL is showing a consistent bullish structure across all timeframes — higher lows, continued BOS patterns, and strong gamma buildup supporting continuation. Price action above $270 can trigger a swift advance toward $280 before potential consolidation.
🎯 Primary Bias: Bullish toward $280–$285
⚠️ Watch For: Failure to hold $259 = momentum loss or short-term correction signal.

This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.