Triple top pattern with broken line that is about to be tested
Alphabet will have its earnings this week.
$GOOG chart has formed a bearish setup that can be used if you think $GOOG is heading down after earnings.
1. triple top
2. Daily resistance zone
3. Broken uptrend line about to be tested (resistance now)
4. 78.6, 88.6 Fibs are considered reversal levels.
Considering the low volume rally and the strong resistance, it is an interesting bearish setup however earnings can boost this stock above 800$ so be careful if you choose to trade it.
Tomer Jakov, The MarkeZone (@themarketzone on Twitter)
Read more about this setup and more on my Weekly Newsletters - goo.gl/Jfnwob
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
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$GOOG chart has formed a bearish setup that can be used if you think $GOOG is heading down after earnings.
1. triple top
2. Daily resistance zone
3. Broken uptrend line about to be tested (resistance now)
4. 78.6, 88.6 Fibs are considered reversal levels.
Considering the low volume rally and the strong resistance, it is an interesting bearish setup however earnings can boost this stock above 800$ so be careful if you choose to trade it.
Tomer Jakov, The MarkeZone (@themarketzone on Twitter)
Read more about this setup and more on my Weekly Newsletters - goo.gl/Jfnwob
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT