$GOOG TOP 20
Added 2024-08-17 15:34:54 +0000 UTCThe exact same process that I used to buy $AMZN is what I used to buy $GOOG this week.
Potentially Wave A had pulled back to its 200 Day MA and blue support level at $155
We could get a relief bounce for Wave B at this point but also a bounce to new highs
$GOOG had not yet bounced as strong as the other Mega Caps this week
The price was back to its level last seen in April, where it rocketed higher post earnings
RSI has just bounced from 30
The small pull back this week held on the 0.618 Fib
The Melt Up level is again at the 1.618 Fib which is at $239
The main concern here is that the the DOJ has hinted that they may take action against $GOOG and possibly split the company due to its anti-trust ruling.....worst case scenario, if this happens, $GOOG is part of the Alphabet company and the sum of its parts could be arguably more valuable if they are broken up......remember when $BABA was exploring this option?...
So I am not concerned about the worst case scenario option, I don't believe this plays out either way, so I am happy to start a position
Next test will be the 50 Day MA at $177 and the previous ATH level at $193....any rejections here and I will take profit.
