It looks like Google will play out an A-B-C-D-E pattern. This pattern will be complete once google breakouts off the triangle. I think it will breaks out in a bearish way and hed to the .5 fib line. This fib line meets with the gann fanns and a long support line.
Channel Up has broken through the support line at 21-Feb-16:30. Possible bearish price movement forecast for the next 8 hours towards 1102.3175.
Supported by RSI above 60
Here we can see a reliable cypher pattern heading for resistance at the fibb .382 and previous resistance level. Price is slightly overbought as seen with RSI and stochastic. If I were a betting man I'd say we're going to see a drop here very soon.
Our preference: sales position below 1010.00 with targets at 991.00 & 981.00 in extension.
Alternative scenario: in excess of 1010.00, aim for a continuation of the rise with 1020.00 & 1030.00 in line of sight.
Comment: The RSI calls for a continuation of the decline.
GOOGL closed froday trading day in a last GAP of last week before
From this point of view, we could see an highly volatile week, while next 5 trading days!?
How ever, maybe i am reading too much in the chart?!
Currently, is essentiel, at least in my opinion, not only this GAP. Much more the 2nd one and 3rd one is huge (`cause the GAP manifest the start of the...
If GOOGL will be traded above 816.04 again,
the way into new all-time highs is only a quest of time :)
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
