GOOG - Strong Long Term Investment, & Possible Trader Short
Strong long term hold while in this channel for investors, and an opportunity for a short, for the traders, current price action looks like it may fully get rejected and cross back ~ -50pts into/under the 50 EMA.
- $175 to $195 is the current ATH resistance point ( rejected 3 times) - proving to be quite the resistance.
- A (possible) repeat double-top formation
- When RSI is around the 25-40 range is proves to be a leading indicator for a scalping opportunity for traders.
- However, when in over sold territory, there is not a strong correlation level to a reveal in price action. 75+ seems to be the most sensitive, and . . works a bit better for a more certain call for reversal in price action.
- $175 to $195 is the current ATH resistance point ( rejected 3 times) - proving to be quite the resistance.
- A (possible) repeat double-top formation
- When RSI is around the 25-40 range is proves to be a leading indicator for a scalping opportunity for traders.
- However, when in over sold territory, there is not a strong correlation level to a reveal in price action. 75+ seems to be the most sensitive, and . . works a bit better for a more certain call for reversal in price action.