🧐Looking at the daily chart, GOOGL had a strong bounce earlier in April but seems to be pausing right at a familiar trouble spot. Price is now stalling near the March-April highs — an area where buyers have previously run out of steam. The last few candles are showing rejection wicks, suggesting that sellers are defending this zone again.
MACD has crossed bullish but isn't accelerating aggressively, and Stoch RSI is in overbought territory — hinting at some short-term exhaustion. This makes me think we might not get a clean breakout unless volume really picks up.
Now switching to the 1-hour timeframe, you can see it even more clearly — GOOGL has been stuck in a descending wedge pattern since that big earnings candle. Price keeps testing the upper wedge but fails to break through convincingly. Momentum looks weak here — MACD is flattening, and Stoch RSI is curling down. This tells me buyers are hesitant, and the bulls need a push soon or this could slip further.
Looking at the GEX and options data, there’s a big gamma wall sitting at $165, which aligns perfectly with the top of the wedge. That's going to act like a magnetic ceiling unless there's a serious catalyst. Meanwhile, downside support exists near $157.5 where the HVL (high volume level) aligns with GEX support. IV is down -9.98%, and the Options Oscillator shows heavy PUT positioning, meaning options sentiment is skewing defensively even though price hasn’t broken down yet.
🔎 My Take:
Right now, GOOGL is in a "prove-it" zone. Bulls had a great run but are hesitating at resistance. If price can reclaim and hold above $161.30–$165 (especially on volume), that would trigger momentum continuation and possibly a gamma squeeze toward $170+. Otherwise, failure to break out — especially if price dips below $157.5 — opens up room for a quick fade toward $155 or even $150 PUT walls.
✅ Trading Thoughts:
* Bullish scenario: Look for price to reclaim and hold above $161.30 with volume. A breakout through $165 could trigger a fast move toward $167–$170.
* Ideal Call setup: 165C or 167.5C (May expiry), but only above $161.30 with momentum.
* Bearish scenario: If price gets rejected again and loses $157.50, I’d look short down to $155 or even $150 PUT GEX wall.
* Ideal Put setup: 155P or 150P (May 10DTE) if $157.50 breaks.
* Neutral: It’s in a wedge with low momentum and IV compression. Don’t force trades here — let price pick a side. This is one of those "react, not predict" moments.
MACD has crossed bullish but isn't accelerating aggressively, and Stoch RSI is in overbought territory — hinting at some short-term exhaustion. This makes me think we might not get a clean breakout unless volume really picks up.
Now switching to the 1-hour timeframe, you can see it even more clearly — GOOGL has been stuck in a descending wedge pattern since that big earnings candle. Price keeps testing the upper wedge but fails to break through convincingly. Momentum looks weak here — MACD is flattening, and Stoch RSI is curling down. This tells me buyers are hesitant, and the bulls need a push soon or this could slip further.
Looking at the GEX and options data, there’s a big gamma wall sitting at $165, which aligns perfectly with the top of the wedge. That's going to act like a magnetic ceiling unless there's a serious catalyst. Meanwhile, downside support exists near $157.5 where the HVL (high volume level) aligns with GEX support. IV is down -9.98%, and the Options Oscillator shows heavy PUT positioning, meaning options sentiment is skewing defensively even though price hasn’t broken down yet.
🔎 My Take:
Right now, GOOGL is in a "prove-it" zone. Bulls had a great run but are hesitating at resistance. If price can reclaim and hold above $161.30–$165 (especially on volume), that would trigger momentum continuation and possibly a gamma squeeze toward $170+. Otherwise, failure to break out — especially if price dips below $157.5 — opens up room for a quick fade toward $155 or even $150 PUT walls.
✅ Trading Thoughts:
* Bullish scenario: Look for price to reclaim and hold above $161.30 with volume. A breakout through $165 could trigger a fast move toward $167–$170.
* Ideal Call setup: 165C or 167.5C (May expiry), but only above $161.30 with momentum.
* Bearish scenario: If price gets rejected again and loses $157.50, I’d look short down to $155 or even $150 PUT GEX wall.
* Ideal Put setup: 155P or 150P (May 10DTE) if $157.50 breaks.
* Neutral: It’s in a wedge with low momentum and IV compression. Don’t force trades here — let price pick a side. This is one of those "react, not predict" moments.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.