GOOGL closes above its opening price after recovering from early selling pressure

Google Inc Class A (GOOGL) Technical Analysis Report for Jul 13, 2018

Highlights

GOOGL closes above its opening price after recovering from early selling pressure
GOOGL closes higher for the 3rd day in a row
GOOGL pushes through previous session high
GOOGL rises to highest close since Inception
GOOGL ends the day indecisive

TQ Sentiment

Report Sentiment: 40% Bullish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, GOOGL finished the week 4.27% higher at 1204.42 after gaining $3.16 (0.26%) today. Today's closing price of 1204.42 marks the highest close since Inception. Trading up to $7.51 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 1201.99, the market confirms its breakout through the prior session's high having traded $8.45 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for GOOGL

Volatility

Friday's trading range was $15.15 (1.26%), that's below last trading month's daily average range of $22.73. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

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 Google Inc Class A

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Latest Report:

GOOGL tumbles -1.63% on high volume

Sep 21, 2018
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