$GOOGL - First gap filled. Long with tight stop $97?
In my previous chart, I stated that the gap fill at $97.50 can happen and the stock hit $97.47. If price fall below $97, we can see the price fall further to $90 and possibly even fill the second gap at $83.
The stock could in the near term climb back above $101 but to see a bullish reversal we need to see the the price climb back above $106.90 level.
The RSI at oversold and stochastic is at oversold and leveling off. The macd is still not turning so it would be too early to say concretely a bullish reversal.
A possible bullish play is to get long with a tight stop at $97 and raise the stop level as the stock climb.
Risk - the price can fall as low as $83 with $90 being an area of support.
Disclaimer: Not investment advice.
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The stock could in the near term climb back above $101 but to see a bullish reversal we need to see the the price climb back above $106.90 level.
The RSI at oversold and stochastic is at oversold and leveling off. The macd is still not turning so it would be too early to say concretely a bullish reversal.
A possible bullish play is to get long with a tight stop at $97 and raise the stop level as the stock climb.
Risk - the price can fall as low as $83 with $90 being an area of support.
Disclaimer: Not investment advice.
If you like this post, follow me and subscribe to my posts for more technical analysis charts (FREE).
