$GOOGL – Rangebound – Key breakout numbers to watch out! – Googl is stuck in a range bound from 100 to 120 since April 2022.
It’s a perfect candidate to play on breakout on either direction. As shown below a weekly chart for $GOOGL, if it does breakout in either upside (breaking $122 price) direction or downside direction (breaking $100 price) can move up to 20 bucks in that particular direction. The perfect trade would be long on GOOGL if breakout upside $122 (Target $140) or Short GOOGL if breakout downside below $100 price (Target $80) by Dec 2022. Option traders can sell vertical call spreads and put vertical spreads in both directions on weekly basis to capture profit.