ALPHABET INC.: TECHNICAL ANALYSIS

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ALPHABET INC.: TECHNICAL ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point161.00
Take Profit173.00
Stop Loss155.00
Key Levels135.00, 137.20, 151.30, 155.00, 156.00, 161.00, 170.00, 173.00
Alternative scenario
RecommendationSELL STOP
Entry Point151.30
Take Profit137.20
Stop Loss156.00
Key Levels135.00, 137.20, 151.30, 155.00, 156.00, 161.00, 170.00, 173.00

Shares of the American holding Alphabet Inc. are trading at 156.00.

An upward trend is forming on the daily chart, within which the price continues to move in the channel with dynamic boundaries of 161.00–135.00, preparing to update the annual high.

On the four-hour chart, the quotes have overcome the previous high of 155.00, and now a reverse test of the passed level is taking place, after which a reversal and a new attempt to overcome the channel resistance line at 161.00 is possible. If successful, the instrument will continue to move to the area of 170.00.

Technical indicators keep a stable buy signal: fast EMA on the Alligator indicator are moving away from the signal line, and the AO histogram forms upward bars above the transition level.

ALPHABET INC.: TECHNICAL ANALYSIS

Trading tips

Long positions may be opened after the consolidation above 161.00, with the target at 173.00. Stop loss is below 155.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 151.30, with the target at 137.20. Stop loss – 156.00.


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