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Wall St. JesusSang Lucci
September 29, 2021
December 6, 2021

$GOOGL – Different Looks on the Pull

During the members-only webinar, Ron compared the pull we saw on $GOOGL on Sep 21st (A) to the one we witnessed during the live recording on Sep 28th (B). 

$GOOGL chart marking the pulls, A and B, and showing the Fibonacci levels

Notable differences:

  • The candle on A touched the 50 SMA but bounced, B already gave the look for more downside potential
  • On B, we also have an 8/21 EMA crossover, often signaling a directional change
  • Additionally, a Fibonnaci retracement drawn on the move (weekly candles to get the bigger picture) from March 23rd, 2020 shows a price level at 2706.63 which could get tested before a establishing long position can be attempted.
  • An Anchored VWAP from May 12, 2021 provides a reference point for where long investors would be looking to get out, below Candle B
  • We can see how strong $GOOGL has been on this extended run.

We will keep watching how this develops. Follow us on Twitter or get updates by subscribing below.

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