GOOG breaks below prior session low


Alphabet Inc. (GOOG) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
GOOG finds buyers at key support level
GOOG breaks below previous session low
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

GOOG finished the week 1.14% higher at 1237.61 after losing $11.49 (-0.92%) today on low volume. Closing below Thursday's low at 1246.01, the share confirms its breakout through the prior session's low having traded $14.01 below it intraday.

Daily chart for GOOG
Volatility

Friday's trading range was $13.69 (1.1%), that's below last trading month's daily average range of $20.48. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 1232.00 during the day, Alphabet bounced off the key support level at 1233.47. The failure to close below the support could increase that levels importance as support going forward.

Trend

Although the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 1256.50 where further buy stops might get activated. With prices trading close to this year's high at 1273.89, upside momentum could speed up should Google be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Alphabet Inc.
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Strong Down Move TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Alphabet Inc. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
BTCUSD 6,266.7342.19 0.68%
TBOND 144.5620.687 0.48%
ASX 6,329.0029.40 0.47%
EURUSD 1.13460.0002 0.02%
DXY 96.580-0.025 -0.03%
GBPUSD 1.2696-0.0026 -0.20%
ETHUSD 279.29-0.83 -0.30%
USDJPY 110.74-0.41 -0.37%
NATGAS 2.939-0.016 -0.54%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV97.45 1.53
1.60%
ACN 10 day candlestick chart for ACN160.41 -0.83
-0.51%
ADBE 10 day candlestick chart for ADBE250.52 -5.53
-2.16%
AAP 10 day candlestick chart for AAP158.03 1.90
1.22%
AES 10 day candlestick chart for AES13.49 -0.01
-0.07%
AET 10 day candlestick chart for AET197.29 0.34
0.17%
AFL 10 day candlestick chart for AFL46.29 -0.22
-0.47%
AMG 10 day candlestick chart for AMG145.43 -1.20
-0.82%
A 10 day candlestick chart for A64.73 -2.02
-3.03%
ABT 10 day candlestick chart for ABT63.47 -0.16
-0.25%