A very simple one here for anyone interested in trading a massively popular tech stock. Remember, we are managing an over valued stock market that could be flirting with a blow off scenario. So anything noted in trade updates like this are just that, trades. NFTRH’s pure macro views are what I am most interested in, personally, beyond a trading mentality.
GOOGL broke above a clear resistance area at 540 and is now dropping to test that breakout. That is now key short-term support. MACD and RSI are fine.
Buy Target: 540
Sell Target: 590
Stop Loss: To suit risk tolerance below 540
A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst.
