Googl Swing Tomorrow 7/1/2024Google (GOOGL) on a 15-minute timeframe, let's analyze the technical indicators and patterns to forecast potential price movements and swing trading opportunities for tomorrow.
Key Observations:
Volume Profile:
VAH (Value Area High): Around 186.61
POC (Point of Control): Around 182.59
VAL (Value Area Low): Around 181.96
Support and Resistance Levels:
Support Levels: 181.96 (VAL) and 182.59 (POC)
Resistance Levels: 182.81, 186.61 (VAH), and 186.62 (previous high)
Trendlines:
A descending trendline indicates a short-term bearish trend.
MACD Indicator:
The MACD is below the signal line, indicating a bearish momentum. However, there might be a potential crossover, suggesting a possible reversal or a bullish divergence.
Analysis and Trading Strategy:
Bearish Scenario:
If the price continues to trade below the POC (182.59) and fails to break above the descending trendline, we might see further downside movement.
Entry: Consider shorting if the price falls below 181.96 (VAL).
Target: The next support level around 180.00, or based on a significant bearish momentum.
Stop-Loss: Place a stop-loss above the POC (182.59) or the descending trendline to protect against a sudden reversal.
Bullish Scenario:
If the price breaks above the descending trendline and sustains above the POC (182.59), it may indicate a potential reversal.
Entry: Consider buying if the price moves above 182.59 and confirms the breakout with volume.
Target: The first target would be around 186.61 (VAH) and then 186.62 (previous high).
Stop-Loss: Place a stop-loss below the POC (182.59) or the descending trendline to manage risk in case of a false breakout.
Range-Bound Scenario:
If the price remains between the support (181.96) and resistance (186.61) levels without a clear breakout, it might continue to trade in a range.
Entry: Consider buying near the support (181.96) and selling near the resistance (186.61).
Target: The opposite boundary of the range (186.61 for buying and 181.96 for selling).
Stop-Loss: Place a tight stop-loss just below the support or above the resistance to protect against a breakout.
Summary:
Key Levels to Watch: 181.96 (Support), 182.59 (POC), 186.61 (Resistance)
Trading Plan:
Short below 181.96 with targets around 180.00.
Long above 182.59 with targets around 186.61 and 186.62.
Range-bound trading between 181.96 and 186.61.
Ensure to monitor the price action closely, especially around the key levels, and adjust your strategy based on real-time market conditions.
