$GOOG TOP 20
Added 2023-04-23 15:39:08 +0000 UTCRejected at the yellow trend line and 5 waves are clearly visible on this Y/B wave now, the 200 Day and 50 Day MA's are just below so these will likely be tested this week, earnings this week too. The set up and strict bear flag have led me to only one conclusion here and one projection. It appears they are losing market share to Bing lately too. The earnings and guidance will be important this week, I will be watching for trends on margins and market share. If these items are diminishing, this is a concern for $GOOG, so in the short term it is likely to come down with this outcome.
So What Now?
A lot rests on the earnings report now, $GOOG has the resources to weather any storm it is up against but in the short term, we could have a great opportunity to buy this cheaper than its current price. For me, I will wait for the earnings report.
Comments
Since I don’t know about the wxy count (yet😉) I tried to apply a standard abc correction for the big B. That could mean that we‘re still in the a of the B (to get this result the special rules for parallels would need to be applied, because the potential 4 of the a would be very low for a 4 (89$ low). With this we might be in a 5 of an a of the B. An abc correction within the channel (b of the B) could happen in theory, followed by a c that leads to new highs above at least 108$. I’ve got some homework on the wxy count to do.🤝 I won’t take positions on this before earnings, because I can’t rule out my own count 100%. I am looking forward to the big C for long term buys of course. For that I don’t need to call where exactly the upward correction ends. Luckily I don’t have to try to trade everything and could also short at the 2 of the C, when the picture is clearer.
rumorandvalue
2023-04-23 21:14:27 +0000 UTC
