$GOOG approaching R1 reversal zone. Price reversion area.
We're coming to a major reversal zone on $GOOG, we've had a great run but the overextended NASDAQ looks to be cooling off, and this is a great place for a short entry or exiting a long on $GOOG/$GOOGL.
The R1 zone at $1209 pegs the October 2nd/3rd resistance level. There's likely to be strong selling pressure here (if we ever make it that far). A great entry point would be a sell order just below this level, if we get a small leg up it will quickly sell off and skilled traders will likely peg the top of this move.
The move down has two price targets, first, at the start of this move at $1147, and second, just below P at $1085. We're likely to tag the first target and depending on the velocity of the move the second as well.
Goog longs should understand that this is a significant resistance area, and likely to be met with a swift sell off. Cheers trading.
The R1 zone at $1209 pegs the October 2nd/3rd resistance level. There's likely to be strong selling pressure here (if we ever make it that far). A great entry point would be a sell order just below this level, if we get a small leg up it will quickly sell off and skilled traders will likely peg the top of this move.
The move down has two price targets, first, at the start of this move at $1147, and second, just below P at $1085. We're likely to tag the first target and depending on the velocity of the move the second as well.
Goog longs should understand that this is a significant resistance area, and likely to be met with a swift sell off. Cheers trading.