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Google Daily Technical Analysis | 29 September 2017

2017-09-29 02:37 pm | Resource: Technical Analysis Section | No Views : 191

Google shares are trading in a up direction as buyers pressured the stock to break through the bearish trend line. The search engine broke 942 level and became support. The slow and fast moving average crosses positively and finally crosses with the long term moving average to support the stock.

Google Daily Technical Analysis | 29 September 2017

We observe from the chart of the search engine on the hourly interval that there is a double bottom pattern that broke through the neckline and rose until it penetrated the 942 level and re-tested it during yesterday's trading.
The rate of change is trading in a bullish direction as a result of the breach of the bearish trend line, but indicates that the buyers' intention is weakening. The bulls are not currently able to stabilize above the trend line.
It is expected that if the stock stabilizes above the level of the double bottom neckline may target the level of 964, while in the case of break 942.40 may target the level of 918.3.
Support: 942.40 - 918.3 - 873.75
Resistance: 958.78 - 980.41 - 988
Trend: Up

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