GOOG: Some scenarios to work with.

٣٠ سبتمبر ٢٠٢٠

Hello traders and investors! Let’s look at Google today!

The hourly chart tells us that we are in a short-term bull trend, after GOOG did a double bottom pattern at the purple line. Now it is doing higher highs/lows, a characteristic of a bull trend.

The black line at $ 1,476.10 was a pivotal point, and the previous resistance, which now is supposed to work as support. Under this line, the situation starts to get dangerous for Google, and if it loses the 21 ema, would be even worse.

But as long GOOG continues to trade above these points, it will seek the $ 1,520, attracted by the gap.

Now, let’s see the daily chart:



The problem is that Google still must face the 21 ema in the daily chart, and this is the only thing that could ruin the short-term bull trend.

The trend is quite bearish in the mid-term, but at least it is trading above the black line at $ 1,464, which is an important point for the stock. If GOOG loses it, along with the supports in the hourly chart, the target would be a retest of the purple line at $ 1,410.

The situation is not easy to analyze, but these are the scenarios we can work with GOOG now, and if this analysis helped you, please, support it! And follow me to keep in touch with my daily analyses.

I wish you all the best of luck.