Google’s Cold Streak: Down 4 of the Past 5 Days

The Hourly View for Google

  • Currently, GOOGL’s price is down $-13.93 (-0.47%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Google has now gone down 4 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • Of note is that the 50 hour changed directions on GOOGL; it is now pointing down. 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.

GOOGL

The Daily View for Google

  • At the moment, GOOGL’s price is down $-3.03 (-0.1%) from the day prior.
  • Google has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 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.

GOOGL

Featured Google Idea From TradingView

Below is a trading comment entitled GOOGL, still another 30% to be had! you may find interesting:

GOOGL is a mature stock and tends to be very respectful of fibs, previously it was able to run up to the 5.618 fib of the 2009 crash (pretty much to the dollar) prior to the COVID crash. Assuming a similar outcome GOOGL still has room to run up to $3937 before a correction back to its current levels around the 3.618 fib.

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