GOOG Analysis: Short Opportunity on the Horizon?
Hello Traders,
I'm sharing my analysis for GOOG, breaking it down in the simplest way possible.
Wave Patterns:
The previous upward trend lasted 3x as long as the recent downtrend, which was 2x. By dividing the last uptrend into three equal periods (3x), I projected the future downtrend (2x) to mirror the previous wave structure (5x total: 3x uptrend and 2x downtrend). Based on this, I expect the downtrend that began on July 8, 2024, to potentially conclude around August 25, 2025.
Regression Channel:
I've drawn the main regression channel on the weekly chart. GOOG's price recently bounced from the channel's upper deviation line, dropping from 190 to 155, which is near the channel's middle line. I anticipate it could reach 175 before continuing downward, forming a new downtrend.
Conclusion:
Given these observations, I see a promising short opportunity, targeting the channel's lower deviation at 127.
Let's keep a close watch on this setup!
GOOG
I'm sharing my analysis for GOOG, breaking it down in the simplest way possible.
Wave Patterns:
The previous upward trend lasted 3x as long as the recent downtrend, which was 2x. By dividing the last uptrend into three equal periods (3x), I projected the future downtrend (2x) to mirror the previous wave structure (5x total: 3x uptrend and 2x downtrend). Based on this, I expect the downtrend that began on July 8, 2024, to potentially conclude around August 25, 2025.
Regression Channel:
I've drawn the main regression channel on the weekly chart. GOOG's price recently bounced from the channel's upper deviation line, dropping from 190 to 155, which is near the channel's middle line. I anticipate it could reach 175 before continuing downward, forming a new downtrend.
Conclusion:
Given these observations, I see a promising short opportunity, targeting the channel's lower deviation at 127.
Let's keep a close watch on this setup!
GOOG Trade active
short position still available from live prices targeting $130
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.