GOOGL ON SUPPORT: 23% BOUNCE IMMINENT

GOOGL GOOGL has consolidated significantly over the last few weeks and, like the NASDAQ, has also taken a beating. Due to the now attractive valuation, the continued stable growth and earnings growth, GOOGL is still a good investment.

Technically, we have reached a trend line and a weaker horizontal support with a further support area at around USD 150. We are already seeing the first RSI divergence. The Bollinger Bands (not shown in the chart, otherwise it would be confusing) are also far overstretched and make a bounce likely. There is also an open gap at $192 - $203.

I would open about 50% of the actual trading position now and the rest when the price falls into the green box, which I still consider to be a possible consolidation area. If the price turns immediately, we are still in with half.

Target Zones:

1. $192.00
   
2. $205.00
   

Support Zones:

1. $165.00
   
2. $150.00