SHORT GOOGL. Price target $660-680.
- Thread starter eganon69
- Start date
Idk man, as much a utilizing some technical analysis and candlestick chart trends have their benefits, Google did just come out with a new phone, and I heard its awesome. Its a good company with good reviews, good history yada yada yada. I'm no expert but I would expect a drop from Apple stock before a drop from Google stock. Good luck though man! Hope it works out for ya!
Thanks. I think it's a great company as well. But I don't trade Fundamentals just charts and that chart looks weak. We will see. My time frame is about 4 weeks to have this play out.
YOLO, dude! But imo not gonna happen.
Well EG, ....at least I finally have some company here. Kudos for putting a stock out there.
I usually do not post trades on here for a variety of reasons. I thought this would spark some interest so decided to post it. Having said that, I am mostly bullish on this Market but not Google and certain other stocks.
What about AMZN?
Similar looking charts but it looks slightly stronger than GOOGL. I would not short it yet but that could change in the next week. I certainly would not be long AMZN here. I just would not trade it. There are better opportunities elsewhere in my opinion.
Agree with your Goog downside but would give it a little more down than $680.
Regarding AMZN, how does $400 sound? I would not be long AMZN here at this moment.
Markets are at a critical juncture, very toppish IMHO.
Well I dont happen to agree with you that the markets are at a critical juncture and very toppish. I do agree we are at a top but one that marks a pause and a pullback likely to result in a market that has legs to go significantly HIGHER. Most sectors of this market are just starting up its engines and has not even started going strong, IMHO. I also notice that Technology sector is breaking down and has been weak even when we are hanging at recent highs with some strength in the DOW stocks. Wait till the DOW stocks breakdown for a correction and this Tech selloff will likely accelerate.
Regarding GOOGL, I am glad you agree but I think there is MAJOR support from a rising long term trendline as well as support from a more recent trendline that will both coincide at about the time GOOGL reaches them (see chart above). That would LIKELY result in major support bounce. Could it break below $660-$680? Yes but I dont think it will. At least not without a significant bounce from that level. So I will keep my short until my charts tell me otherwise.
By the way, in my opinion TA shows GOOGL is a SHORT on every single time frame I have looked at from Monthly down to 60 min chart. When all these timeframes agree I have learned to listen. But of course nothing is 100%.
Stay tuned.
Regarding GOOGL, I am glad you agree but I think there is MAJOR support from a rising long term trendline as well as support from a more recent trendline that will both coincide at about the time GOOGL reaches them (see chart above). That would LIKELY result in major support bounce. Could it break below $660-$680? Yes but I dont think it will. At least not without a significant bounce from that level. So I will keep my short until my charts tell me otherwise.
By the way, in my opinion TA shows GOOGL is a SHORT on every single time frame I have looked at from Monthly down to 60 min chart. When all these timeframes agree I have learned to listen. But of course nothing is 100%.
Stay tuned.