Stocks

Alphabet may rise to 179.10 - 183.90

2024-08-19

Our pivot point stands at 155.

Our preference

Short term rebound towards 179.1.

Alternative scenario

The downside breakout of 155 would call for 147.4 and 142.8.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 166.6205 and 175.5844).

Supports and resistances

188.5 **

183.9 *

179.1 **

174.5

162.96 (USD-last)

158.1

155 **

147.4 *

142.8 **

Number of asterisks represents the strength of support and resistance levels.

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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