Google (GOOGL) Closes Prior Hour Up 1.13%; in a Downtrend Over Past 14 Days, Heads Down For the 2nd Consecutive Day, Pin Bar Pattern Appearing on Chart

The Hourly View for GOOGL

Last Updated September 17, 2020, 23:14 GMT

At the time of this writing, GOOGL’s price is down $-24.38 (-1.61%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Alphabet Inc Daily Price Recap

Alphabet Inc closed the day prior down 1.66% ($25.05); this denotes the 2nd consecutive day it has gone down. The change in price came along side change in volume that was up 78.95% from previous day, but down 25.8% from the Wednesday of last week. Below is a daily price chart of Alphabet Inc.


Alphabet Inc Technical Analysis

The first thing we should note is that Alphabet Inc is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to GOOGL:

    $AAPL Apple One is huge for couples/families. Might finally get me to switch from Spotify after 10 years. The News+ and Arcade+ are huge benefits since I hate trying to find non-paywall sources via $GOOGL News and the wife loves mobile games. The Fitness+ thing would just be a bonus to get me on the treadmill more in the mornings.