Analysis: Time to start monitoring the Alphabet (Google) ahead of a potential bounce

When a trend driven in one direction it sometimes feels like it can’t change but just continue further. The american technology companies have gone on strike in recent times and the question now is what to do next? When it comes to the Alphabet, the shares have followed, or possibly led the market down, but the trends are changing not so often, and the arguments for that to be the case is so far thin. We have as yet no long-term sell signals in place why köplägen shall be sought for those a little longer swingarna. Time to look for a potential flip-zone Internet conglomerate Alphabets the way to new heights!

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The Alphabet did relatively recently to crack the psychologically important level at $ 1,000. Shares held above this level for a while before it headed in a negative direction. The peak so far was 1 010 dollars. The share came down, bounced in a rebound then you will take the speed down again. A decline that continued next to the national day celebrations yesterday. Today, the stock exchanges once again in the united states.

To get a further sell signal, we want to have several criteria in place. The time will be very happy to have gone in the goal and be in sync with an Elliot wave pattern. This seems not to be the case with the Alphabet. In addition, we want to have price in goal, this seems not to have occurred. Thirdly, we want to have a lower peak of at least 30 days after the first peak, which is definitely not occurred. From a longer term perspective seems the current reaction only to be just a reaction from the overbought location.

Cycles rolling through the market, and a bike that is always interesting is the 30 day cycle, it moves from peak to peak, or possibly from top to bottom? The bike in the Alphabet reaches for the top the 6 June 30 days today or possibly tomorrow. We are in for a hot time zone for a possible bounce.

Alphabet (Daily Chart)

From the top of the 1 010 dollars, we see that we reach 360 degrees on the Gann wheel, from a prisperspektiv, at approximately 886 dollars. In the graph, we can note a gap at this level. It is tempting to assume that this gap should be closed. Thus, we have a very important support at 886 dollars from a short-term perspective.

We can see how the dagbaserade the oscillators now it is down to low levels, levels that may well generate a turnaround, or in any case, a bounce.

The Alphabet can be interesting to buy if we get to see köpstyrka from our interesting intensity of 886 dollars. It is important not to try to catch a ”falling knife” but that, in any case can have a positive bar in the day. Would such a enter for example, today or tomorrow from about 886 dollars so is the share-grabbing for purchase. A bounce should have the opportunity to push up the stock to 980 dollars from which a judgment in this case can come to pass. 980 dollar becomes, in other words, our target level. We get a omslagsformation a week from 886 dollars so should an emergency exit be placed as a daily closure either during the 886 dollars or at the bottom of the omslagsstapeln. Then, as a daily closing below this for we know that at the bottenformationer tend to be relatively hit trade. Listed below 886 dollars to stop, but it may need to be corrected slightly, depending on where a potential bottom coming in.