Alphabet tries to recoup losses - Analysis - 12-12-2018

Economies.com
2018-12-12 12:14PM UTC

Alphabet's stock rose 1.17% in the last session, or 12.20 points, after the support of 1039.61 held its ground, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (From 894.79 to 1273.89), scoring a profit of 1.17%, or 12.20 points, amid negative pressure from the 50-day SMA, with negative signals from the RSI. 

 

Therefore we expect the stock to return lower, especially if the stock of 1039.61 was definitively breached, targeting the next one at 984.26, which represents the ratio 76.4% of the same retracement levels. 

 

Expected trend for today: Likely Bearish 

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