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Alphabet Inc.: technical analysis 09.06.2023
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Alphabet Inc. for a better understanding of the current market situation and more efficient trading.
Shares of the American holding company Alphabet Inc. are moving in the global corrective trend at 122.00.
On the daily chart, an ascending channel with dynamic boundaries of 115.00–133.00 is forming, within which the price, having reversed from the resistance line, continues its local decline.
On the four-hour chart, a breakdown of the key low of 120.70 will open the possibility of a full-fledged decline to the global channel support line at 115.00. At the moment, there are practically no prospects for correction but they may appear in case of re-consolidation of quotes above 126.00.
Technical indicators are preparing to give a sell signal: fast EMAs on the Alligator indicator are approaching the signal line, actively narrowing the range of fluctuations, and the AO histogram is forming downward bars close to the transition level.
Trading tips
Short positions may be opened after a reversal, reduction, and consolidation of the price below 120.70 with the target at 115.00. Stop loss – 123.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 126.00 with the target at 133.00. Stop loss – 123.00.
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Use the current recommendations of analysts on Alphabet Inc. and trade efficiently with NPBFX.