Momentum Reversal? Google’s Heads Down for the First Time in 5 Days

The Hourly View for Google

  • At the time of this writing, GOOGL’s price is down $-0.52 (-0.02%) 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 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Google. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being below it. The moving averages on the hourly 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.

Google’s hourly price chart is shown below.

GOOGL

The Daily View for Google

  • Currently, GOOGL’s price is down $-17.97 (-0.6%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Google has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend 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.

Below is a daily price chart of Google.

GOOGL

Featured Google Idea From TradingView

Below is a trading comment entitled $GOOGL | WEEKLY WATCHLIST 11/8 you may find interesting:

Risk/reward here is quite low for upside. If you aren’t already in from when I shared Google before, I would wait for a pullback to enter long.

StonksSociety