$GOOG TOP 20
Added 2024-09-07 19:10:49 +0000 UTCI have been looking at the $GOOG chart today and wanted to upload it first before the remaining Top 20
It is the only Mega Cap that lost its 200 Day MA but also made a lower low below its 5th of August low
$MSFT lost its 200 Day MA but finished the week on its 0.618 fib, $AMZN is just below its 200 Day MA and even $NVDA held above its 0.78 Fib and did not make a lower low.
What is very interesting here with $GOOG is that it tested its 0.38 Fib and finished the week on this level at $152.
This would be the standard pull back level for Wave A, which is the original level we have Wave A at when the selling started in July
There is certainly weakness here relative to the other Mega Caps but right now, it is still in Wave A for me, the slight bounce in August is not enough for me to say that it was Wave B, I think it was too fast and shallow
$GOOG needs to start next week positive, otherwise a move down to the 0.5 Fib at $138 is next.
I have decided that I will hold and wait for Wave B to come in
The only exception is if I see a bounce to the 200 Day MA and there is a rejection here, then I will close my position and wait until Wave C completes to add and I will be adding $GOOG aggressively under $138 regardless.
