GOOGL Daily S/R|200 MA|Hidden Divergence|Swing High|Price Action

2020年9月25日

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