Alphabet
Elliott Wave View: Support Area for Alphabet (GOOGL)Alphabet (GOOGL) 45 minutes chart below shows that the stock has rallied higher from August 10 low. From that low, the stock rallied higher in wave ((iii)), which ended at 1652.79 high. The rally unfolded as a 5 waves impulsive Elliott Wave Structure. Up from wave ((ii)) low, wave (i) ended at 1536.97 high. The dip in wave (ii) ended at 1499 low. The stock then extended higher in wave (iii), which ended at 1608.78 high. Wave (iv) pullback then ended at 1575.04 low. The push higher in wave (v) ended at 1652.79 high. This completed wave ((iii)) in larger degree.
Currently, the stock is doing a pullback in wave ((iv)) to correct the cycle from August 10 low. The structure is unfolding as a double correction. Wave (w) ended at 1618.81 low. The bounce in wave (x) ended at 1647.79 high. Wave (y) lower is in progress. The 100-161.8% extension of wave (w)-(x) where (y) can potentially end is at 1592.53 – 1613.70 area, highlighted with a blue box. If reached, that area can produce 3 waves bounce at least or the stock can resume higher in wave ((v)). The 100% extension from June 29 low, where wave ((v)) could target is at 1689.
GOOG now short but still long?Hey everyone,
Google made it's way to ATH but now the party is over, at least for a short time. As you can see there is a SHS formation and the reaction was bad. But the stock will face a few support zones, as the yellow lines and the green box, as well as the Fibo Retracement, shows. The DEMA and SMA also show a short signal since friday. BUT chances are good google turns back long after hitting the green box.
Entry: 1441$
Stop: 1400$
Goal: 1622$
Much fun with that trade!
Leave a follow, my goal is 200 :)
ALPHABET ($GOOGL) 🏁 | The Google Article Of Your DreamsToday we are looking to see if Alphabet can follow other tech companies like Apple to make new highs. Big tech companies (Apple, Microsoft, Facebook, Alphabet, especially) making new highs is bullish for the market a few reasons, as we covered in a previous post (see our related S&P post in the links below).
The good news is some rotation out of other sectors and into tech today might be just what is needed to push the NASDAQ, big tech, and Alphabet to new heights.
Let's take a look at big search to see if GOOGL has what it takes to break resistance.
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Support:
The S1 bullish S/R orderblock cluster is our first point of support for the GOOGL bulls. Although we would likely get there by way of a series of lower lows, there is no reason we can't find support here and move up as people weight their portfolio to tech due to "second wave" COVID fears.
If S1 can't hold, the S2 orderblock formed by a previous gap is a good candidate for support. This isn't the ideal correction for the bulls, but it retains an overall bullish price structure.
The S3 S/R flip is hard to hit without the bullish market structure being lost, however, it is a notable support level if the markets go into a more serious correction. While support exists below S3, it is irrelevant to our current question of a path to new all-time highs over any reasonable timeframe.
Resistance:
R1 is the first point of resistance for the bulls. Breaching R1 and finding support on it or above it is paramount. The ideal for bulls is to maintain the current momentum and avoid a pattern of lower highs and lower lows.
Above R1 we have the R2 orderblock from the gap down at the start of the COVID drop. R2 is a logical point of resistance on the path to all-time-highs, as it gives a chance for consolidation without sacrificing momentum.
Lastly, the R3 S/R Flip and R4 all-time highs are the final points of resistance. Either/both of these levels could provide one final challenge for bulls before it's off to the races.
Summary:
Alphabet has a clear path to all-time highs, and if the bulls can pull it off it will be very bullish for the markets. If Apple can do it, we think Alphabet can do it. Then of course so can Microsoft, Facebook, etc. This should set off a chain reaction to take the indexes (which are all tech-heavy) to new highs.
Resources:
finance.yahoo.com + www.cbsnews.com
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TESLA , a Bull in the moonTSLA
Tesla, bullish going up, because his effords and the success of SpaceX missión, a great hope for humanity and spacial carrer.
It´s the start of a Bullish trend. Maybe, we will see a correction, and then go up.
Is also recommended to get in Alphabet (GOOGL), the firm has participation in SpaceX.
Good trades!!
See you Later!
GOOGL Weekly Resistance| S/R Flip| Blue Sky Breakout Evening Traders,
Today’s Technical Analysis – GOOGL – breaking a multi-year weekly resistance with strong volume. Consolidation and a retest of structure will confirm a new range.
Points to consider,
- Multiple weekly closes
- Strong volume
- S/R Flip retest (confirmation)
- Local high (blue sky breakout
GOOGL has closed consecutive weekly candles above structural resistance. this shows strength in price action as volume was considerably high at the point of break.
A Support/Resistance Flip will further confirm a true break as this will solidify the new support
GOOGL is in a strong multi-year bull trend, taking out the recent highs will establish a blue sky breakout.
Overall, in my opinion, GOOGL confirming an S/R flip will be extremely bullish. This will mean that the multi-year range has broken and price is likely to establish new highs.
What are your thoughts?
Please leave a like and comment,
And remember,
“The hard, cold reality of trading is that every trade has an uncertain outcome.” ― Mark Douglas,
Google Continued Trend and Next Opportunity Expected! Welcome to Profitlio Trading!
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The continued trend is expected to show up a possible breakout on the key level sitting above. And will wait for the confirmation and entering in a perfect retest and reversal towards the market resistance on TOP! Sketch up your own trade setup and make sure you meet with the required confirmations first before you make your move!
Profitlio Trading ( Since 2014 in Financial Markets )
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ALPHABET ($GOOGL): Does ALPHABET Go All the Way?✨ New charts every day ✨
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Despite taking a hit on the ad side of the business, Google (GOOG / GOOGL) has had a textbook "V" shaped recovery (Or in this case, an upside down "A" recovery we could say). Can the bulls make the final push back to all time highs? One could argue the new stimulus package will have a positive effect on the markets and give this tech giant room to finish running. So let's map out a potential pathway for the bulls.
Resource: www.cnn.com + www.marketwatch.com
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe giving us a clear trend to look for a long setup within.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua).
3. As you can see we had a great long setup entry at S1, sadly this was missed so we can only plan for what may happen now and not worry about the past.
4. The target for this move is up though the "COVID gap" and all the way to the range created by previous highs at R4. This is good news for anyone already long.
5. If we don't see bullish continuation off this move, then there is another potential long at S2 assuming Fractal Trend gives the green light.
6. If Fractal Trend signals a downtrend (Maroon bar color), then any long positions should exit as this is seen as indecision/weakness, otherwise the bet is on GOOGL continuing its recovery.