$GOOG TOP 20
Added 2023-03-26 19:02:12 +0000 UTCOK $GOOG has gone very complex now because it has broke out of the red channel and above the 200 Day MA but the entire move is not an impulse wave and has gone into a bear flag now....in line with a lot of our mega cap stocks uploaded this weekend. The head and shoulders pattern is barely staying alive now, it is valid as the neckline is still constant but it does not look great. I have cleaned up the chart because there is a lot on it now.
RSI is into the overbought territory now and MACD is looking extended too. Again this is not what we expect to see if this is the start of a bull run.
So What Now?
Like with $AAPL, looks like there may be a little more to run before it reaches the higher limit of this channel and the likely scenario next is that it will reject and come down, they are all in the same position right now, looking extended and needing to pull back, Bulls will be optimistic that this is above the 200 Day MA now but we can see it is clearly in a channel now and I can not draw an impulse wave right now as it is not valid, it has moved quite vertical in the last week and a half and each time this has happened, it has pulled back almost all of its gains.
