Where Googl Will Go After Downturn Today? TA for Dec.19
Today, GOOGL faced a significant market downturn, dropping sharply from its previous highs. This crash in price reflects broad market weakness and heightened volatility. Let’s analyze the structure, levels, and opportunities for recovery or further downside.
1. Market Structure Analysis
* Trend: GOOGL has broken below critical trendlines on the hourly and daily charts, signaling bearish momentum. This break invalidates prior upward channels.
* Volume: Increased volume during the sell-off suggests strong bearish activity, possibly institutions or large players exiting positions.
2. Supply and Demand Zones
* Demand Zone:
* $182.42 to $185.00 – Potential support zone where buyers may step in.
* Supply Zone:
* $192.50 to $197.00 – Recent resistance; any price action into this zone may face selling pressure.
3. Order Blocks and Support/Resistance
* Support Levels:
* $182.00 (Critical put support from GEX and chart levels).
* $180.00 (Historical support and psychological round number).
* Resistance Levels:
* $192.50 (Recent PUT wall and GEX resistance).
* $197.00 (Upper gamma wall zone).
4. Key Indicators
* 9 EMA & 21 EMA:
* GOOGL is trading well below these levels, confirming short-term bearishness. Look for the EMAs to act as dynamic resistance near $190.
* MACD:
* On both hourly and daily charts, MACD has bearish crossovers, indicating momentum is still strongly negative.
5. Gamma Exposure (GEX)
* Gamma Levels:
* Negative Gamma: $192.50 acts as the highest PUT resistance.
* Neutral Gamma: $190.00 remains the gamma wall; a significant close above could signal a shift.
* Positive Gamma: $205.00 marks the distant target if recovery begins.
* Options Oscillator Insights:
* IVR: Elevated, indicating higher volatility. Calls remain significantly outnumbered by PUTs, showing bearish sentiment.
6. Scalping vs Swing Outlook
* Scalping:
* Entry: Look for intraday bounces near $182.50 with tight stop-losses.
* Exit: Target quick profits near $185 or dynamic EMA levels.
* Swing Trading:
* Entry: A confirmed hold above $190 on volume would signal a reversal.
* Stop-Loss: $180 – Strict risk management is key.
* Profit Targets: $197, followed by $205 (if broader market conditions improve).
7. Actionable Suggestions
1. Wait for Confirmation: Watch price action near $182–$185 for signs of reversal or continuation.
2. Tight Risk Management: With volatility high, position sizing and stop losses are critical.
3. Focus on Key Levels: Monitor GEX levels for real-time insight into resistance/support.
8. Conclusion
GOOGL is navigating significant bearish pressure, and current price action demands caution. While a short-term bounce is possible near $182, the larger structure suggests further downside if key levels don’t hold. Active traders should prioritize discipline and agility in this environment.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and trade responsibly.
1. Market Structure Analysis
* Trend: GOOGL has broken below critical trendlines on the hourly and daily charts, signaling bearish momentum. This break invalidates prior upward channels.
* Volume: Increased volume during the sell-off suggests strong bearish activity, possibly institutions or large players exiting positions.
2. Supply and Demand Zones
* Demand Zone:
* $182.42 to $185.00 – Potential support zone where buyers may step in.
* Supply Zone:
* $192.50 to $197.00 – Recent resistance; any price action into this zone may face selling pressure.
3. Order Blocks and Support/Resistance
* Support Levels:
* $182.00 (Critical put support from GEX and chart levels).
* $180.00 (Historical support and psychological round number).
* Resistance Levels:
* $192.50 (Recent PUT wall and GEX resistance).
* $197.00 (Upper gamma wall zone).
4. Key Indicators
* 9 EMA & 21 EMA:
* GOOGL is trading well below these levels, confirming short-term bearishness. Look for the EMAs to act as dynamic resistance near $190.
* MACD:
* On both hourly and daily charts, MACD has bearish crossovers, indicating momentum is still strongly negative.
5. Gamma Exposure (GEX)
* Gamma Levels:
* Negative Gamma: $192.50 acts as the highest PUT resistance.
* Neutral Gamma: $190.00 remains the gamma wall; a significant close above could signal a shift.
* Positive Gamma: $205.00 marks the distant target if recovery begins.
* Options Oscillator Insights:
* IVR: Elevated, indicating higher volatility. Calls remain significantly outnumbered by PUTs, showing bearish sentiment.
6. Scalping vs Swing Outlook
* Scalping:
* Entry: Look for intraday bounces near $182.50 with tight stop-losses.
* Exit: Target quick profits near $185 or dynamic EMA levels.
* Swing Trading:
* Entry: A confirmed hold above $190 on volume would signal a reversal.
* Stop-Loss: $180 – Strict risk management is key.
* Profit Targets: $197, followed by $205 (if broader market conditions improve).
7. Actionable Suggestions
1. Wait for Confirmation: Watch price action near $182–$185 for signs of reversal or continuation.
2. Tight Risk Management: With volatility high, position sizing and stop losses are critical.
3. Focus on Key Levels: Monitor GEX levels for real-time insight into resistance/support.
8. Conclusion
GOOGL is navigating significant bearish pressure, and current price action demands caution. While a short-term bounce is possible near $182, the larger structure suggests further downside if key levels don’t hold. Active traders should prioritize discipline and agility in this environment.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.