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Archive
- 4/19/2024 -
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Google Inc. (GOOGL) Technical Analysis
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| Summary:
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| | It was the negative week for the Google Inc. (GOOGL). During the week, the GOOGL dropped -3.64 points, or -2.31%, and closed at 154.09 on Friday, April 19, 2024. Weekly volume was -18% below average.
 Long-term trend: [See GOOGL long-term trend chart]
A long-term downtrend had started on February 2, 2022 at 3030.93 and reached 83.34 on November 3, 2022. GOOGL lost 2947.59 points, or 97.25%, in 39 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 140.97 and resistance is at 162.36. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.
 Medium-term trend: [See GOOGL medium-term trend chart]
A medium-term uptrend had started on November 3, 2022 at 83.34 and reached 160.22 on April 12, 2024. GOOGL gained -76.88 points, or -92.25%, in 75 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 136.14 and resistance is at 164.98. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See GOOGL weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since October 14, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See GOOGL short-term trend chart]
A short-term downtrend had started on April 12, 2024 at 160.22 and reached 152.30 on April 19, 2024. GOOGL lost 7.92 points, or 4.94%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See GOOGL daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
 Candlestick pattern: [See GOOGL candlestick chart pattern]
On Friday the chart has formed a Bearish Falling Three Methods Candlestick pattern. A Bearish Falling Three pattern is a continuation pattern, it shows a temporary break in the trend of prices without causing a reversal. The reliability of the Bearish Falling Three Methods pattern is high. Use the Technical Stock Screener to see the list of stocks that had a Bearish Falling Three Methods Candlestick pattern during the last week.
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