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Alphabet Inc (GOOGL) Down 0.57%, Crosses 20 Day Moving Average; Pin Bar Pattern Appearing on Chart
The Hourly View for GOOGL
Last Updated December 11, 2020, 12:24 GMT
At the time of this writing, GOOGL’s price is down $-18.89 (-1.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GOOGL. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on GOOGL; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Alphabet Inc Daily Price Recap
Alphabet Inc closed the day prior down 0.57% ($10.21); this denotes the 4th consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 9.58% from the day before — and down 22.96% from the same day the week before. The daily price chart of Alphabet Inc below illustrates.
Alphabet Inc Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Alphabet Inc crossed below its 20 day moving average yesterday. bit.ly/3ne3AWK
Alphabet Inc (GOOGL) Down 0.57%, Crosses 20 Day Moving Average; Pin Bar Pattern Appearing on Chart
The Hourly View for GOOGL
Last Updated December 11, 2020, 12:24 GMT
At the time of this writing, GOOGL’s price is down $-18.89 (-1.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GOOGL. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on GOOGL; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Alphabet Inc Daily Price Recap
Alphabet Inc closed the day prior down 0.57% ($10.21); this denotes the 4th consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 9.58% from the day before — and down 22.96% from the same day the week before. The daily price chart of Alphabet Inc below illustrates.
Alphabet Inc Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Alphabet Inc crossed below its 20 day moving average yesterday. bit.ly/3ne3AWK