Thursday, June 14, 2018 1:20:07 PM
Shares of Alphabet (GOOGL) are surging again as best of breed technology stocks are the 'in' thing. Every investor wants some, no matter the price. I am sitting back, allowing the average investor to pile in until Alphabet hits $1,181.50. Why this level? It offers the best technical setup trade short, with the smallest risk to biggest reward. Let me explain... The $1,181.50 level is a major gap fill, unfilled at this point. In addition, it is within 1% of the all-time high which is also a double top. This gives added resistance and adds to the short trade chance of success. Now that we have a technical trade level, let's look at the risk versus reward. First, the reward would be a fall with days to $1,120, with a second target over the following month to $1,000. The risk to the trade is tiny as any confirmation above the all-time high of $1,198 would stop you out. So in reality, the reward is $61 - $180 while the risk is a tiny $16.50. That is the type of trade worth taking in my humble opinion.
Gareth Soloway
InTheMoneyStocks
Recent GOOGL News
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
