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Alphabet Inc (GOOGL) Heads Down For the 2nd Consecutive Day, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for GOOGL

Last Updated September 18, 2020, 11:23 GMT

Currently, GOOGL’s price is down $-24.38 (-1.61%) from the hour prior. This is the 2nd straight hour GOOGL has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Alphabet Inc Daily Price Recap

Alphabet Inc closed yesterday down 1.66% ($25.05); this denotes the 2nd consecutive day it has gone down. The price move occurred on volume that was up 80.78% from the day prior, but down 25.04% from the same day the week before. Below is a daily price chart of Alphabet Inc.

GOOGL

Alphabet Inc Technical Analysis

Notably, Alphabet Inc is now close to its 100 day averages, located at 1475.65 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Alphabet Inc’s price has gone down 16 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to GOOGL:

    $FEAC gaming sector heating up with $U Unity IPO today. Skillz is the worldwide leader in mobile eSports. They work with Unity. https://cdn.skillz.com/doc/developer/unity/play_a_skillz_match/

    Skillz gross margins 95% & projected 2022 revenue of $555 million. Mobile gaming is expected to grow from $68 billion in 2019 to $150 billion by 2025.

    Skillz touts 40 million registered users and more than 30,000 registered developers on its gaming platform. It is anticipated that in 2020, Skillz’s patented technology will power over 2 billion casual esports tournaments and facilitate $1.6 billion in paid entry fees for games hosted on its secure and proprietary platform.

    NFL invested in mobile gaming platform Skillz

    Electronic Arts founder is on Skillz advisory board.

    $FEAC merger with Skillz from same SPAC team that brought DraftKings public

    Skillz is a two-time winner of CNBC’s Disruptor 50 and the #1 fastest-growing company in America on the Inc. 5000.

    $FEAC Investor Presentation
    https://www.sec.gov/Archives/edgar/data/1801661/000110465920101665/tm2029912d1_ex99-2.htm

    $GOOGL $FB $SNAP

    – trades55

The post Alphabet Inc (GOOGL) Heads Down For the 2nd Consecutive Day, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart appeared first on CFDTrading.



This post first appeared on Complete CFD Trading Guide, News And Analysis, please read the originial post: here

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Alphabet Inc (GOOGL) Heads Down For the 2nd Consecutive Day, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

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