Source: PaxForex Premium Analytics Portal, Technical Insight
Alphabet (NASDAQ: GOOGL) shares rallied after strong reporting pushed the S&P 500 Index to a record high and supported the Nasdaq Index. Shares of Google Alphabet Inc rose 5.4% after reporting record second consecutive quarter earnings and announcing a $50 billion share buyback.
S&P 500, H4
Pivot: 4186.00
Analysis:
Provided that the index is traded above 4167.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 4186.00
- Take Profit 1: 4209.50
- Take Profit 2: 4225.00
Alternative scenario:
In case of breakdown of the level 4167.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 4167.00
- Take Profit 1: 4155.00
- Take Profit 2: 4118.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
Resistance | Support |
4350.00 | 4167.00 |
4225.00 | 4155.00 |
4209.50 | 4118.00 |
S&P 500, D1
Pivot: 4186.00
Analysis:
While the price is above 4020.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 4186.00
- Take Profit 1: 4270.00
- Take Profit 2: 4385.00
Alternative scenario:
If the level 4020.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 4020.00
- Take Profit 1: 3950.00
- Take Profit 2: 3855.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance | Support |
4191.00 | 4118.00 |
4180.00 | 4097.00 |
4155.00 | 4083.00 |