The top seems to be in on this one for several more years to come.
GOOG had a great buy signal this morning, and a sell signal early afternoon.
bot P/M long at 650 day trade scaled at 660 holding for 656 twitter.com
It looks like GOOG is targeting a strong support at around 635 area which is likely to be broken within few days time and it should eventually work out towards measured move target at around 620 area.
Overall markets are bearish. Google failed to make new highs. Broke resistance. Big correctional move. Target 636 area. Laser focused fib analysis. Enjoy. Many other factors are in this analysis, much, much more. But, I don't have time to explain all I did in here. The charting software was hard enough to use as it is. Did analysis in ThinkorSwim. Just TAKE my...
If it will close under the support this week, will be a bad signal coming from the price action. Looking also at other companies like Apple, FB and so on, they are signaling some nasty falls.
The corrective rebound that we have seen after aggressive sell off (Earning release), that has been reversed today, and I have one possible swing downward move towards $669 level.
This is an update to the chart We have added some of the shorts and longs that we identified for our clients since the last update and the levels are shown on this chart. Note the price action at the VAIL. Even after the huge drop after the earnings report fiasco, note that the price closed exactly at the top of the entry range for longs. A nice bounce ensued...
GOOG recently had two legged pullback to MA in a bull trend, measured move target has been achieved and now it's should be reversing up to recent test of high at 774 area and either bull trend resumption or forming double top/higher high for the major trend reversal. This is a lower than 50% probability trade, this is why risk:reward is 1:2 on this one. If...
The Correction could take a few weeks or a few months. This is only my personal opinion and not a buy or sell recommendation for you.
GOOG is likely to bounce off EMA 20 and at least test the previous high, before any potential reversal. If triggers above 746.7 - the target will be 769.70 with $10 stop loss at 736.7