DarkMessiah777

Google Long 2nd analysis

Long
NASDAQ:GOOG   Alphabet Inc (Google) Class C
After the analysis made yesterday on the daily chart the price of google opened above it's previous resistance, this means the 1st trade is good to go, however as a good analyst one must always assume his position is wrong and look for further analysis to try and take cover from any unforsean threats. On this analysis I marked the significant support and resitance of the hourly chart and left the ones of the daily visible in order to set target. Looking at the RSI it seems that price should correct within the next couple of hours at least enough for the RSI to go back to not overbought levels and like that recharge for the next bull move. However with a severe overextension on the MACD I highly doubt the 1st trade layed on this analysis is the optimal one, I belive the second one to be a better position in which there is segnificanly less risk and more reward
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