Google Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for Google

  • At the moment, GOOGL’s price is up $4 (0.14%) from the hour prior.
  • This is the 3rd hour in a row Google has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Google. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Google’s hourly price chart is shown below.


The Daily View for Google

  • Currently, GOOGL’s price is down $-60.5 (-2.03%) from the day prior.
  • The daily chart shows that Google has seen 2 straight down days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between GOOGL’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in GOOGL’s price.

Below is a daily price chart of Google.


Featured Google Idea From TradingView

Below is a trading comment entitled Meta Platform – Metavervse you may find interesting:

Mark Zuckerberg’s recent announcement that Facebook will be renamed Meta has sparked a lot of buzz around the topic.The metaverse is an iteration of the Internet portion of virtual reality often in the form of social media.The metaverse in a broader sense can refer not only to virtual worlds governed by social networks but to the entire spectrum of augmented reality.Zuckerberg changed the name of the company only, not the brand of the social network. Let’s remember how Google became Alphabet 6 years ago. It’s the same thing.What is important is something completely different. How many of you watched the Meta presentation, the primary source of information on what’s going on? I think only a few people. In this presentation, the most i…