GOOGL closes within previous day's range after lackluster session
Alphabet Inc. (GOOGL) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
GOOGL ended the week 0.03% higher at 1177.98 after edging lower $4.16 (-0.35%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.
Daily Candlestick Chart (GOOGL as at Sep 14, 2018):
Friday's trading range was $14.48 (1.22%), that's below last trading month's daily average range of $20.57. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 1165.95 and 1190.94 which it has been in now for the last trading week.
Prices are trading close to a key support level at 1165.95. Prices are trading close to the key resistance level at 1192.01. The stock was sold again around 1188.00 after having seen highs at 1187.86, 1190.69 and 1190.94 in the last three trading sessions. Obviously there is something going on at that level.
While the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.
Buying might accelerate should prices move above the nearby swing high at 1190.94 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 1165.95 where further sell stops could get activated.
With three out of the other four FAANG Stocks closing lower today, the ones that stand out on the negative side are AAPL losing -1.14% and AMZN closing -0.99% lower. On the flipside the best performer has been FB closing 0.59% higher. Read more