GOOGL Breaking Out of Downtrend? July 7

🔍 GEX-Based Options Insight (Chart 1)
* Current Price: $179.53
* Highest Positive Gamma Level: $180 — this is the key gamma wall. Price is magnetized toward it and may experience hesitation or consolidation here.
* Call Walls Above:
* $182.5 → 2nd Call Wall
* $185 → 3rd Call Wall (possible extended target if momentum remains bullish)
* Put Walls Below:
* $170, $165 → Both levels suggest downside is well-defended by PUT buyers
* Options Sentiment:
* IVR: 36.2 (fairly elevated)
* IVX > IVR (IV expansion potential)
* Call Bias: 22.9% Call$, GEX bullish (green circles)
* 🔋 Interpretation: Bullish GEX + elevated IV suggests strong upward pressure. Consider buying CALL options near $179–$180, targeting a breakout continuation toward $182.5–$185.

🧠 1-Hour Technical Analysis (Chart 2)

* Structure: GOOGL just broke a local CHoCH → BOS, reclaiming short-term EMA support.
* Trendline Breakout: Clean break above descending trendline + break of BOS = bullish confirmation.
* Support Zones:
* $178.85 (minor support)
* $175.70 and $173.50 (stronger demand)
* Next Resistance Levels:
* $181.61 → matches GEX wall
* $185.0 → next key area to watch if breakout sustains
* Volume: Bullish breakout accompanied by rising volume = healthy momentum
* Bias: Leaning bullish, but needs to hold $178.85 zone to stay valid.

✅ Trade Plan Suggestion
Call Entry Idea:
* 📍 Entry: $179–$180 (on pullback or breakout)
* 🎯 Target: $182.5 → $185
* ⛔️ Stop-loss: Below $178.50
* 📆 Contract: 1–2 weeks out (due to IV and potential expansion)

Note: If it fails to hold $178.50–$175.70 zone, re-evaluate for PUTs or wait for new structure confirmation.

This analysis is for educational purposes only and does not constitute financial advice. Always manage risk and trade with a plan.