GOOG retraced 50% of it's recent swing up last Friday and closed with a hammer candlestick above this level. Despite being a "red" hammer, it is potentially bullish as it initially pierced below the 50% fib level @ 1467 but closed above @ 1482.
Incidentally, 1465-1485 is also a prior "resistence" zone turned support.
Long at 1482 with initial stop @ 1450 (a few ticks below Last candle's low) with near term profit @ 1585 (recent high). Protect profits with trailing stops should the trade goes our way.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence
Incidentally, 1465-1485 is also a prior "resistence" zone turned support.
Long at 1482 with initial stop @ 1450 (a few ticks below Last candle's low) with near term profit @ 1585 (recent high). Protect profits with trailing stops should the trade goes our way.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence