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Google Daily Technical Analysis | 5 February 2018

2018-02-05 10:12 am | Resource: Technical Analysis Section | No Views : 352

Google shares broke the ascending trend line on the 60-minute time frame last Friday as non-farm payrolls data outstripped expectations, supporting the US dollar against stocks.
 
Google Daily Technical Analysis | 5 February 2018

Currently, the search engine is trading months at the 4-hour ascending trend line, therefore our neutral view of the stock trades, the moving average and the slow moving average are crossed negatively.
The rate of change 12 is trading in a bearish direction as it is breaking the ascending trend line towards the end of last Thursday's trading.
It is expected that if the US stock breaks the $ 1102 level it might target the 1048 level on the other side, if a breach of 1122 might target the 1162 level.
Support: 1110.82 - 1078.06 - 1039.51
Resistance: 1174.27-1185.89 - 1211.39
Trend: neutral


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