GOOGL: Potential for Further Upside. For December 12, 2024
Key GEX Levels:
1. Resistance Zones:
* 195 (3rd CALL Wall, 48.11%): A significant resistance level with strong call activity.
* 200 (10.35% CALL Wall): Another resistance area, but less significant than the 195 level.
2. Support Zones:
* 190 (2nd CALL Wall, 85.43%): Strong support zone, indicating a likely bounce if prices retrace.
* 187.5: Additional support backed by high positive NETGEX.
Price Action Insights:
* GOOGL is trading near its 195 resistance zone. This level will be critical to watch for breakout potential.
* Momentum has been bullish, with the price consolidating after an upward move. A clean breakout above 195 could push the price towards 200.
* Trend Bias: Bullish above 195; neutral-to-bearish below 190.
Options Oscillator Insights:
1. IVR (Implied Volatility Rank): 32.3
* The IVR suggests moderate implied volatility. This provides an opportunity for options strategies, as premiums are neither too expensive nor too cheap.
2. IVx Average: 35.1
* Indicates the historical average of implied volatility, slightly above the IVR, confirming stable volatility levels.
3. Call%/Put% Distribution: 47.5% Call-dominant
* Market sentiment leans bullish, with higher call volume dominating the options flow.
Options Trading Recommendations:
1. Bullish Setup:
* Call Option: Strike price 195.
* Expiration Date: December 22, 2024.
* Target Level: 200. Rationale: A breakout above 195 could trigger strong bullish momentum.
2. Bearish Setup:
* Put Option: Strike price 190.
* Expiration Date: December 22, 2024.
* Target Level: 187.5. Rationale: A rejection at 195 or a breakdown below 190 could push prices lower.
3. Neutral Setup:
* Iron Condor: Utilize strikes 190 and 200 for the wings.
* Expiration Date: December 22, 2024. Rationale: Capitalizes on range-bound movement between support and resistance zones.
Trading Plan:
* Above 195: Enter long positions targeting 200. Use options or equity positions.
* Below 190: Consider short positions targeting 187.5. Hedge with puts for downside protection.
* Between 190-195: Look for consolidation or sideways action before committing.
Final Thoughts:
GOOGL's proximity to critical GEX levels provides high-confluence trade setups. Traders should closely monitor the 195 resistance and 190 support to confirm directional bias. Utilize the Options Oscillator insights to refine entries and exits.
Disclaimer:
This analysis is for informational purposes only. Please conduct your own due diligence before making trading decisions.
1. Resistance Zones:
* 195 (3rd CALL Wall, 48.11%): A significant resistance level with strong call activity.
* 200 (10.35% CALL Wall): Another resistance area, but less significant than the 195 level.
2. Support Zones:
* 190 (2nd CALL Wall, 85.43%): Strong support zone, indicating a likely bounce if prices retrace.
* 187.5: Additional support backed by high positive NETGEX.
Price Action Insights:
* GOOGL is trading near its 195 resistance zone. This level will be critical to watch for breakout potential.
* Momentum has been bullish, with the price consolidating after an upward move. A clean breakout above 195 could push the price towards 200.
* Trend Bias: Bullish above 195; neutral-to-bearish below 190.
Options Oscillator Insights:
1. IVR (Implied Volatility Rank): 32.3
* The IVR suggests moderate implied volatility. This provides an opportunity for options strategies, as premiums are neither too expensive nor too cheap.
2. IVx Average: 35.1
* Indicates the historical average of implied volatility, slightly above the IVR, confirming stable volatility levels.
3. Call%/Put% Distribution: 47.5% Call-dominant
* Market sentiment leans bullish, with higher call volume dominating the options flow.
Options Trading Recommendations:
1. Bullish Setup:
* Call Option: Strike price 195.
* Expiration Date: December 22, 2024.
* Target Level: 200. Rationale: A breakout above 195 could trigger strong bullish momentum.
2. Bearish Setup:
* Put Option: Strike price 190.
* Expiration Date: December 22, 2024.
* Target Level: 187.5. Rationale: A rejection at 195 or a breakdown below 190 could push prices lower.
3. Neutral Setup:
* Iron Condor: Utilize strikes 190 and 200 for the wings.
* Expiration Date: December 22, 2024. Rationale: Capitalizes on range-bound movement between support and resistance zones.
Trading Plan:
* Above 195: Enter long positions targeting 200. Use options or equity positions.
* Below 190: Consider short positions targeting 187.5. Hedge with puts for downside protection.
* Between 190-195: Look for consolidation or sideways action before committing.
Final Thoughts:
GOOGL's proximity to critical GEX levels provides high-confluence trade setups. Traders should closely monitor the 195 resistance and 190 support to confirm directional bias. Utilize the Options Oscillator insights to refine entries and exits.
Disclaimer:
This analysis is for informational purposes only. Please conduct your own due diligence before making trading decisions.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.