FX.co ★ Patterns #GOOG | Alphabet Inc. Stock Price
#GOOG M15
Head and Shoulders
According to the chart of M15, #GOOG formed the Head and Shoulders pattern. The Head’s top is set at 175.90 while the median line of the Neck is found at 173.53/173.62. 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 173.40.
#GOOG M15
Bullish Rectangle
According to the chart of M15, #GOOG formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 173.25, the lower border is 170.61. The signal means that a long position should be opened above the upper border 173.25 of the Bullish Rectangle.
#GOOG M5
Bullish pennant
The Bullish pennant pattern is formed on the #GOOG M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 168.22, a further uptrend is possible.
#GOOG M15
Bearish Rectangle
According to the chart of M15, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 170.41, the lower border is 169.00. The signal means that a short position should be opened after fixing a price below the lower border 169.00 of the Bearish Rectangle.
#GOOG M30
Bearish pennant
The Bearish pennant pattern has formed on the #GOOG M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 168.89 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
#GOOG M15
Double Bottom
The Double Bottom pattern has been formed on #GOOG M15; the upper boundary is 170.41; the lower boundary is 169.00. The width of the pattern is 135 points. In case of a break of the upper boundary 170.41, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.
#GOOG M5
Double Bottom
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 170.41 is broken. The further movements will rely on the width of the current pattern 135 points.
#GOOG M5
Bearish Rectangle
According to the chart of M5, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 170.41, the lower border is 169.06. The signal means that a short position should be opened after fixing a price below the lower border 169.06 of the Bearish Rectangle.
#GOOG M5
Triple Top
The Triple Top pattern has formed on the chart of the #GOOG M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 176.46/176.61 with the upper limit 177.37/177.38; the projection of the width is 91 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 176.46, the price is most likely to continue the downward movement.
#GOOG M5
Bearish Rectangle
According to the chart of M5, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 177.04, the lower border is 176.15. The signal means that a short position should be opened after fixing a price below the lower border 176.15 of the Bearish Rectangle.