Daily Trade Call

Google Stock- Rangebound Key breakout numbers to watch out

byHardik Golwala

August 17, 2022

1 minute read

Google Stock Chart

$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.

Author

Hardik Golwala

Hardik is a professional engineer by career and a passionate active trader/investor. He follows the market on a day-to-day basis. Hardik started equity trading 15 years ago and has developed various strategies to trade the options/equities successfully in any type of market. He believes “learning should never end”.