Do you think the "Google Mania" will keep going up?
Today we will take a look at GOOGL.
a) Since the bottom of the 2020 pandemic, the price has been on a major rally, gaining more than 150%
b) The basic formations we have been observing are corrective structures ranging from 25 to 40 days before new impulses coming.
c) Currently, we can see a new corrective pattern above the broken ascending channel.
d) If the pattern we have been observing keeps working as in the past, then this should be another situation where a bullish resolution may come.
e) What are our filters? First, the green horizontal line, we will ONLY consider this view as active if the price reaches that level.
f) The invalidation level will be below the current corrective structure. (2600.00)
g) To define targets, we have used Fibo Extensions; we have two levels that can be used as take-profit zones.
h) Based on previous behavior, we can expect a resolution between 100 and 150 days.
Thanks for reading!
a) Since the bottom of the 2020 pandemic, the price has been on a major rally, gaining more than 150%
b) The basic formations we have been observing are corrective structures ranging from 25 to 40 days before new impulses coming.
c) Currently, we can see a new corrective pattern above the broken ascending channel.
d) If the pattern we have been observing keeps working as in the past, then this should be another situation where a bullish resolution may come.
e) What are our filters? First, the green horizontal line, we will ONLY consider this view as active if the price reaches that level.
f) The invalidation level will be below the current corrective structure. (2600.00)
g) To define targets, we have used Fibo Extensions; we have two levels that can be used as take-profit zones.
h) Based on previous behavior, we can expect a resolution between 100 and 150 days.
Thanks for reading!