Trading Plan and Technical Analysis for GOOGL
Price Action Overview: GOOGL is currently trading near $135.50, attempting to recover after a dip from recent highs. The stock has formed a descending trendline, creating lower highs, but recent price action suggests a potential breakout attempt. Volume has been moderate, and the MACD is beginning to cross into bullish territory, signaling momentum may be shifting.
Liquidity Zones and Order Blocks:
* Liquidity Zone 1 (Support): $133.00-$134.50 - This area has seen buying interest and could act as a safety net for bullish setups.
* Liquidity Zone 2 (Resistance): $136.50-$138.00 - Key zone where sellers have shown dominance. A breakout above this could trigger a trend reversal.
Key Support and Resistance Levels:
* Support Levels:
* $134.50 - Immediate intraday support.
* $133.00 - Swing low and a critical level for bulls to defend.
* Resistance Levels:
* $136.50 - Immediate resistance and the descending trendline.
* $138.00 - Major breakout target.
Scalping Gameplan:
* Bullish Setup:
* Enter long above $136.50, targeting $137.50 and $138.50.
* Stop-loss: Below $136.00.
* Trigger: Watch for a strong 5-minute or 15-minute candle close above the descending trendline with rising volume.
* Bearish Setup:
* Enter short below $134.50, targeting $133.50 and $132.50.
* Stop-loss: Above $135.00.
* Trigger: Look for rejection at $136.50 followed by a breakdown below support with high volume.
Swing Trading Playbook:
* Bullish Case:
* Enter on a confirmed breakout above $136.50, with a swing target at $140.00.
* Stop-loss: Below $134.50.
* Indicators to Watch: MACD bullish crossover, RSI above 50, and sustained volume.
* Bearish Case:
* Enter short if price fails to break above $136.50 and closes below $134.00.
* Swing target: $130.00.
* Stop-loss: Above $135.50.
Thoughts and Suggestions: GOOGL is at a decision point, with price consolidating near the descending trendline. If volume picks up and breaks resistance, bulls could regain control. However, rejection at $136.50 might push the stock back toward support levels. Scalpers should be prepared for quick moves in either direction, while swing traders can capitalize on confirmed breakouts or breakdowns.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always do your own due diligence and consult a financial professional before making trading decisions.
Price Action Overview: GOOGL is currently trading near $135.50, attempting to recover after a dip from recent highs. The stock has formed a descending trendline, creating lower highs, but recent price action suggests a potential breakout attempt. Volume has been moderate, and the MACD is beginning to cross into bullish territory, signaling momentum may be shifting.
Liquidity Zones and Order Blocks:
* Liquidity Zone 1 (Support): $133.00-$134.50 - This area has seen buying interest and could act as a safety net for bullish setups.
* Liquidity Zone 2 (Resistance): $136.50-$138.00 - Key zone where sellers have shown dominance. A breakout above this could trigger a trend reversal.
Key Support and Resistance Levels:
* Support Levels:
* $134.50 - Immediate intraday support.
* $133.00 - Swing low and a critical level for bulls to defend.
* Resistance Levels:
* $136.50 - Immediate resistance and the descending trendline.
* $138.00 - Major breakout target.
Scalping Gameplan:
* Bullish Setup:
* Enter long above $136.50, targeting $137.50 and $138.50.
* Stop-loss: Below $136.00.
* Trigger: Watch for a strong 5-minute or 15-minute candle close above the descending trendline with rising volume.
* Bearish Setup:
* Enter short below $134.50, targeting $133.50 and $132.50.
* Stop-loss: Above $135.00.
* Trigger: Look for rejection at $136.50 followed by a breakdown below support with high volume.
Swing Trading Playbook:
* Bullish Case:
* Enter on a confirmed breakout above $136.50, with a swing target at $140.00.
* Stop-loss: Below $134.50.
* Indicators to Watch: MACD bullish crossover, RSI above 50, and sustained volume.
* Bearish Case:
* Enter short if price fails to break above $136.50 and closes below $134.00.
* Swing target: $130.00.
* Stop-loss: Above $135.50.
Thoughts and Suggestions: GOOGL is at a decision point, with price consolidating near the descending trendline. If volume picks up and breaks resistance, bulls could regain control. However, rejection at $136.50 might push the stock back toward support levels. Scalpers should be prepared for quick moves in either direction, while swing traders can capitalize on confirmed breakouts or breakdowns.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always do your own due diligence and consult a financial professional before making trading decisions.
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.
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.