Google Daily Technical Analysis | 29 September 2017
2017-09-29 02:37 pm | Resource: Technical Analysis Section | No Views : 191
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
US markets extended gains on Tuesday as the Dow Jones industrial average rose more than 200 points on strong earnings from major banks and other companies. JP Morgan, Wells Fargo, Citigroup and Goldman Sachs were among the companies that posted better-than-expected revenue before the bell. Goldman Sachs reports profitability of $ 4.79, down 24% year on year Goldman Sachs Group said Tuesday its third-quarter net income was $ 8.32 billion,…
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