$GOOG attempted to retest its yellow channel breakout level this week and was unable to hold support on the outside of this trend line, we can see that the price action has extended quite high above its 50 and 200 Day MA, and in spite of this pull back, the price has not even tested its 20 Day MA either, bulls are still in control here and can send this higher, especially if they can recapture the trend line on the upside, otherwise we will monitor how $GOOG potentially tests its moving averages.
I would not be taking an action here right now if you are currently holding $GOOG, the market is still showing signs that it can hold.
Gareth Neary
2024-07-14 18:16:42 +0000 UTCJASON LEWIS
2024-07-14 11:56:07 +0000 UTC