GOOGL Daily S/R|200 MA|Hidden Divergence|Swing High|Price Action
Evening Traders,
Second analysis – GOOGL – testing key 200DMA where a bounce into Daily S/R is probable,
Points to consider,
- Bearish Price Action
- 200DMA (Support)
- Daily S/R Resistance
- RSI Hidden Bullish Divergence
- Increasing Volume
GOOGL’s immediate Price Action from swing high is bearish where a back test and respect of the Daily S/R will establish a bearish retest.
The current 200DMA is supporting price, this is a technical pivot where a bounce is probable.
The RSI has a valid hidden bullish divergence, indicative of strength and a potential short term reversal.
Current volume profile nodes are increasing; this is expected as price trades at a key technical level.
Overall, in my opinion, GOOGL is a valid short-term long into Daily S/R with defined risk. Price action is to be used upon management/ discretion of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.”
― Yvan Byeajee
Second analysis – GOOGL – testing key 200DMA where a bounce into Daily S/R is probable,
Points to consider,
- Bearish Price Action
- 200DMA (Support)
- Daily S/R Resistance
- RSI Hidden Bullish Divergence
- Increasing Volume
GOOGL’s immediate Price Action from swing high is bearish where a back test and respect of the Daily S/R will establish a bearish retest.
The current 200DMA is supporting price, this is a technical pivot where a bounce is probable.
The RSI has a valid hidden bullish divergence, indicative of strength and a potential short term reversal.
Current volume profile nodes are increasing; this is expected as price trades at a key technical level.
Overall, in my opinion, GOOGL is a valid short-term long into Daily S/R with defined risk. Price action is to be used upon management/ discretion of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.”
― Yvan Byeajee