Google Stock- Rangebound Key breakout numbers to watch out

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

US Market Overview - Waves of Wednesday 17th Aug 2022

Next Article
Tesla Weekly Chart

TESLA - Outlook for next few months 2022

Dow Jones Industrial Average 
$36,204.44  $41.06  0.11%  
NASDAQ Composite 
$14,185.49  $119.54  0.84%  
S&P 500 
$4,569.78  $24.85  0.54%  
Russell 2000 
$1,882.02  $19.37  1.04%  
CBOE Volatility Index 
$13.08  $0.45  3.56%  
Total
0
Share
error: Content is protected !!