FX.co ★ Patterns #GOOG | Alphabet Inc. Stock Price

The Bullish pennant pattern is formed on the #GOOG M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 175.33, a further uptrend is possible.

The Triple Bottom pattern has formed on the chart of #GOOG M5. Features of the pattern: The lower line of the pattern has coordinates 169.47 with the upper limit 169.47/168.82, the projection of the width is 194 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 167.53, the price is most likely to continue the upward movement.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 170.53; the lower boundary 169.46; the width of the pattern 107 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 169.31 level.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 173.19; the lower boundary 168.42; the width of the pattern is 491 points. Sell trades are better to be opened below the lower boundary 168.42 with a possible movements towards the 168.27 level.

The Double Bottom pattern has been formed on #GOOG M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 172.14 is broken. The further movements will rely on the width of the current pattern 134 points.

According to the chart of M15, #GOOG formed the Head and Shoulders pattern. The Head’s top is set at 176.37 while the median line of the Neck is found at 172.46/172.97. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of #GOOG will go towards 172.74.

The Double Bottom pattern has been formed on #GOOG M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 174.42 is broken. The further movements will rely on the width of the current pattern 70 points.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 173.68; the lower boundary 173.17; the width of the pattern 51 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 173.02 level.

The Double Bottom pattern has been formed on #GOOG M15. Characteristics: the support level 169.16; the resistance level 171.09; the width of the pattern 193 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 180 points.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 169.93; the resistance level 170.69; the width of the pattern 76 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 81 points.