Top 5 Weekly Trade Ideas #3 - GOOGL Trend Retest
Nice looking chart here on GOOGL IMO. I'm mainly focused on the two secondary trendlines. One is an uptrend and the other is a previous downtrend that has been broken. Price just tapped both of these trendlines at the same time and held after a recent sell off.
This looks like a great spot to long if you ask me, but it could be used for a short if it falls below. It's not often you have trendlines converge this cleanly. As the path shows, upside target is around $171. $168 and $174 could be areas of interest as well.
In the case of a downside break, target would be around $155. I'd look for shorts if it broke below and failed on a retest.
This looks like a great spot to long if you ask me, but it could be used for a short if it falls below. It's not often you have trendlines converge this cleanly. As the path shows, upside target is around $171. $168 and $174 could be areas of interest as well.
In the case of a downside break, target would be around $155. I'd look for shorts if it broke below and failed on a retest.
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Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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