GOOG - Long term chart still looks good! Like level of 103!
- On weekly chart, 2022 bear flag retrace is still on target. Price action at Fib 78.6 which still points to likelihood of GOOG to go back to equal high at 152
Of course, noting the current bearish sentiment, where could GOOG pullback to?
- Like the level of 126 as Fib support of recent bull flag and also confluence of 2 buy channels from Oct 2022 and Mar 2023
- Also like the support of 116
- But my strongest resolve will be to accumulate at 103! ==> Major volume profile level + Fib 61.8 pullback!
Extreme bearish level is if S&P500 crash to 320 would see GOOG reach 74. My view is unlikely but never know, market likes to do what it likes to do.
I'm going with 103 as my goto level with the highest risk/reward.
Good luck, all!
@LMSunshine @TigerStars @macroB @Deposit @CaptainTiger @melson
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Is this dip an opportunity to acquire shares of one of the world's best businesses at a slight discount from its peak price?
google is not doing too bad I’ll keep holding it
Come on all tech stocks are in the same situation tbh