In the above chart, please observe the lower, gray colored . That line goes all the way back to June 27, 2016, and intersects the price more than seven times. Please see this image of an expanded view of that time-frame and the trend-line:
Now, examine the three Fibonacci components shown: the Blue FIB Speed Resistance Arcs, the Green FIB retracement Levels, and the Purple FIB . notice the beautiful conjunctions of the last three market bottoms in $GOOGL, in relationship to the Blue FIB Speed Resistance Arcs, and twice now, on the Gray trend-line at the same time.
Carefully look at the nearly perfect alignment of all three components projecting into the future. To my vision, the coincidence of all three components at the 0.618 and 0.764 FIB levels implies to me that the gaps in $GOOGL will be filled, which is precisely what one would expect.
But wait, there's more! :) To keep from cluttering the chart with too much information, I created other chart links where one can review and Fibonacci Speed Resistance Fans that perfectly coincide with the price and lower on Friday, March 23rd, 2018.
https://www.tradingview.com/x/0Sbt4G4v/ FIB Speed Resistance Fans
Given the exhaustion flush of retail IRA accounts due to the recent emotional fear mongering by a hysterical media, I believe the big Bulls will be back with vim and vigor next week. Since Google is a critical market metric that influences many other issues and indexes, one can expect a resounding concentric response on $SPX500 $SPXUSD $SPY $NAS100 $NAS100USD $QQQ $NSXUSD and a potential draw up of $FB $AAPL and even $NFLX to coincide with any positive Google move.. Short covering will enhance the move.
Finally, one should omit from their perspective the vast amount of political dogma and world wide saber rattling that is underfoot, and simply look at the market from a technical perspective, not an emotional one. I can validate this suggestion by asking a few simple questions: Where is the market today in comparison to where it was during World War II, during the Watergate crisis, during the Gulf War of 1990/1991 or the 2003 invasion of Iraq? Where is the market today, in relationship to where it was during the global financial crisis of 2007-2008? Is your trading porch light flickering?
These observations and opinions of mine do not constitute a recommendation to buy or sell any stock, option, , or other investment instrument.
© 2018 Dharana