GOOGL Techical Analysis for Nov. 1, 2024
Key Support and Resistance Levels
Immediate Resistance: 171.17 (current ask price). A break above this could indicate potential upside momentum.
Next Resistance: 182.02. This level may act as a significant barrier if GOOGL starts to rally.
Immediate Support: 163.94, where previous buying activity occurred. If the price retraces, it could find support here.
Major Support: 160.98–161.01, marking a stronger floor from prior price action. A break below this zone might signal further downside.
Price Action & Trend Analysis
Trend: The price has seen a downward pull after a recent rally, suggesting some profit-taking. However, the price currently appears to be consolidating near support zones.
Moving Averages: The 9 EMA and 21 EMA are trending downwards, showing that the recent short-term momentum has been bearish. Watch for any crossovers as a potential shift in momentum.
Trendline: There is a descending trendline from recent highs, which aligns with the current resistance. Breaking and closing above this trendline could indicate bullish momentum.
Entry and Exit Points
Entry (Long): If price sustains above 171.17 with strong volume, a possible entry could be considered with a target towards 182.02.
Exit: Consider taking profits at 182.02 if entering long. Alternatively, if the price loses support at 163.94, exit longs to avoid deeper downside.
Entry (Short): Below 163.94, consider shorting, with an initial target around 161.00 and potentially lower if selling pressure persists.
Additional Indicators
MACD: The MACD shows a slight bullish cross, which could suggest a near-term reversal in momentum if confirmed with price action.
Volume: Volume spikes are seen during sell-offs, indicating active participation in the recent downtrend. Watch for volume confirmation if the price attempts a breakout or breakdown.
Disclaimer
This analysis is for informational purposes only and should not be taken as financial advice. Please perform your own research or consult with a financial advisor before making any trading decisions. Market conditions can change rapidly, and this analysis may become outdated.
Immediate Resistance: 171.17 (current ask price). A break above this could indicate potential upside momentum.
Next Resistance: 182.02. This level may act as a significant barrier if GOOGL starts to rally.
Immediate Support: 163.94, where previous buying activity occurred. If the price retraces, it could find support here.
Major Support: 160.98–161.01, marking a stronger floor from prior price action. A break below this zone might signal further downside.
Price Action & Trend Analysis
Trend: The price has seen a downward pull after a recent rally, suggesting some profit-taking. However, the price currently appears to be consolidating near support zones.
Moving Averages: The 9 EMA and 21 EMA are trending downwards, showing that the recent short-term momentum has been bearish. Watch for any crossovers as a potential shift in momentum.
Trendline: There is a descending trendline from recent highs, which aligns with the current resistance. Breaking and closing above this trendline could indicate bullish momentum.
Entry and Exit Points
Entry (Long): If price sustains above 171.17 with strong volume, a possible entry could be considered with a target towards 182.02.
Exit: Consider taking profits at 182.02 if entering long. Alternatively, if the price loses support at 163.94, exit longs to avoid deeper downside.
Entry (Short): Below 163.94, consider shorting, with an initial target around 161.00 and potentially lower if selling pressure persists.
Additional Indicators
MACD: The MACD shows a slight bullish cross, which could suggest a near-term reversal in momentum if confirmed with price action.
Volume: Volume spikes are seen during sell-offs, indicating active participation in the recent downtrend. Watch for volume confirmation if the price attempts a breakout or breakdown.
Disclaimer
This analysis is for informational purposes only and should not be taken as financial advice. Please perform your own research or consult with a financial advisor before making any trading decisions. Market conditions can change rapidly, and this analysis may become outdated.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.