GOOGL
$GOOGL | WEEKLY WATCHLIST 9/27Another name that we called the bottom on perfectly. No changes since the last time I posted. Bounced exactly where I showed on the chart. Now, looking for breakout above the red resistance line. Please note the descending broadening wedge pattern which is BULLISH!
Looking to enter a long position on break above red resistance line to test $2900 and ATH.
$GOOGL | WEEKLY WATCHLIST 9/13Watching the $2770 region as a prime spot for a relief bounce to buy the dip. Long term bullish channel that has controlled Google's price action since late 2020. Closed under the channel median on Friday, hinting at further weakness to come. News about potential violation of labor laws on Friday caused them to sell hard. Neutral-biased until we can reach strong support.
GOOGL daily Elliott wave countAs we can see on chart googl now in ext 5 so let turn on target on indicator,
If you don't know how to target wave 5 here is some education
Price had reached target 3 of ext 3 target and target 1 of ext 5 target, so it can be end of wave 5 or if it continues break the high 3222 is the next key area
If price fall after making ext 5 correction will be sharp so we need to very careful
$GOOGL | TRADE IDEAAnother prime short contender that can see nice downside potential IF market weakness accelerates. Simple longterm bullish channel that has held since last year. Notice every time we reach the red region, we see some sort of pullback either back to the median (white line) or support (green line). I have a small short position as a hedge to the overall bull market. Play cautiously and good luck out there!