Opening Idea:GOOG facing Difficulties to go higher (explanation)
For 4 times, the stock has tested the blue line which was a support and now a resistance, and delivers some bearish signals looking at the upper shadows and the strong volumes.
- For trading: you need to wait for the breaking of the highlighted rectangle, the bearish signals are encouraging to break from below and maybe reach the lower red level of PITCHFORK.
- For investing: I'm still bullish, If you analyze the stock from the beginning of the explosion of prices till now, you will see that the chart is doing an angle of 45° approximately, so it is very difficult to go down, and very risky to go against the trend.
- For trading: you need to wait for the breaking of the highlighted rectangle, the bearish signals are encouraging to break from below and maybe reach the lower red level of PITCHFORK.
- For investing: I'm still bullish, If you analyze the stock from the beginning of the explosion of prices till now, you will see that the chart is doing an angle of 45° approximately, so it is very difficult to go down, and very risky to go against the trend.