Google supported by weekly bullish div.

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Alphabet - 30d expiry - We look to Buy a break of 103.66 (stop at 99.49)

Price action looks to be forming a bottom.
Bullish divergence can be seen on the weekly chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
The RSI is trending higher.
103.47 has been pivotal.
A break of the recent high at 103.47 should result in a further move higher.
With signals for sentiment at oversold extremes, the dip could not be extended.

Our profit targets will be 114.49 and 118.49

Resistance: 103 / 106 / 112
Support: 100 / 98 / 96

Disclaimer – Saxo Bank Group.

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