Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, April 14, 2021 8:30:02 AM
By: Chris Svorcik | April 14, 2021
• Alphabet stock (GOOG) made a strong bullish breakout above the triangle pattern. The breakout is taking place in a well established uptrend channel.
The Alphabet stock (GOOG) made a strong bullish breakout above the triangle pattern. The breakout is taking place in a well established uptrend channel (green lines).
This article reviews whether the uptrend can continue higher or not. We also review key support and resistance levels plus potential targets.
Price Charts and Technical Analysis
The GOOG stock triangle chart pattern completed an ABC (green) within a shallow wave 4 pullback.
Price action bounced at the 38.2% Fibonacci level and has already reached the -27.2% Fibonacci target. What can be expected next?
1. No divergence pattern is visible so far. This means that the uptrend remains strong and impulsive, which is indicating that bulls remain in control.
2. The current bullish price swing is part of a larger wave 3 (pink) of wave 3 (purple), which indicates that more upside is likely.
3. A full uptrend is visible with a clear uptrend channel (green lines) and moving averages aligned with the 21 ema above the 144 ema and above the 233 and 610 emas.
4. Considering the strong price push away from the 21 ema, it is likely that the Fibonacci levels of the most recent price swing will act as support and cause a bounce (green arrows) if a pullback occurs (orange arrows).
5. The next targets are located at $2400, $2500, and $2600.
On the 4 hour chart, we can see multiple waves 3 already appear in the recent past. This is indicating a strong uptrend.
1. Currently price is in a wave 3 (green). Price could continue higher within wave 3.
2. Eventually now or later, a shallow pullback (orange arrows) could confirm the end of the wave 3 (green) and the start the wave 4 (green).
3. The Fibonacci levels are expected to act as support for a bounce (green arrows).
4. A break below the previous tops (green box) could place the current wave outlook on hold (orange circle) or invalidate it (red circle).
5. A deeper retracement does not mean that the uptrend is over. Price action could still bounce at the 144 ema close.
Good trading,
Chris Svorcik
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GOOG News
- MongoDB and Google Cloud Collaborate to Optimize Gemini Code Assist for Developers Building Applications on MongoDB • PR Newswire (US) • 05/02/2024 10:00:00 AM
- Google Terminates Employees Over Protests Against Israeli Government Contract • IH Market News • 04/18/2024 12:20:50 PM
- Apple in Talks with Google to Integrate Gemini AI into iPhone, Shaping a New Era in Tech Collaboration • IH Market News • 03/19/2024 10:39:54 AM
- Futures Pointing To Continued Weakness On Wall Street • IH Market News • 03/05/2024 02:03:27 PM
- U.S. Stocks May Lack Direction Following Yesterday’s Modest Pullback • IH Market News • 02/27/2024 02:14:46 PM
- FTC to Inquire to Microsoft's, Google's, Amazon's AI Partnerships • Dow Jones News • 01/25/2024 06:12:00 PM
- Lüm Mobile Taps Alepo's TelcoBot.ai for Generative AI Customer Service • PR Newswire (US) • 01/25/2024 04:00:00 PM
- Alphabet on Track for Record High Close -- Data Talk • Dow Jones News • 01/25/2024 03:45:00 PM
- Google to Settle Chip Patent Lawsuit With Singular Computing • Dow Jones News • 01/24/2024 07:15:00 PM
- Alphabet Division X Cutting Dozens of Staff, Bloomberg Reports • Dow Jones News • 01/22/2024 04:32:00 PM
- Alphabet on Track for Highest Close Since February 2022 -- Data Talk • Dow Jones News • 01/22/2024 03:36:00 PM
- AST SpaceMobile Gets Investments From AT&T, Google • Dow Jones News • 01/18/2024 10:00:00 PM
- Google to Invest $1 Billion to Build UK Data Center • Dow Jones News • 01/18/2024 06:51:00 PM
- Applied Materials, Google to Collaborate on AR Technology • Dow Jones News • 01/09/2024 01:12:00 PM
- Alphabet on Track for Highest Close Since April 2022 -- Data Talk • Dow Jones News • 12/20/2023 03:49:00 PM
- Trending: Alphabet to Pay $700 Million in Google Play Settlement • Dow Jones News • 12/19/2023 08:13:00 PM
- Trending: Epic Games Wins Antitrust Lawsuit Against Google • Dow Jones News • 12/12/2023 03:50:00 PM
- Alphabet on Pace for Largest Percent Increase Since July -- Data Talk • Dow Jones News • 12/07/2023 03:22:00 PM
- Google, Canada Reach Deal Over Planned Online News Law • Dow Jones News • 11/29/2023 08:05:00 PM
- Google, Canadian Government Reach Deal on Online News Act, CBC Reports • Dow Jones News • 11/29/2023 05:23:00 PM
- VMware and Google Cloud announce planned PostgreSQL-compatible Database Solution for traditional and generative AI applications on VMware Cloud Foundation • Business Wire • 11/07/2023 08:05:00 AM
- Match Group, Google Reach Binding Term Sheet in Legal Battle • Dow Jones News • 10/31/2023 09:29:00 PM
- Alphabet Ends Down 9.5%, Sees Largest Percent Decrease Since March 2020 -- Data Talk Update • Dow Jones News • 10/25/2023 08:59:00 PM
- Alphabet Down Over 8%, on Pace for Largest Percent Decrease in Almost a Year -- Data Talk • Dow Jones News • 10/25/2023 02:48:00 PM
- Stocks to Watch: Microsoft, Alphabet, Stride • Dow Jones News • 10/25/2023 12:16:00 AM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM