FAANG Focus: GOOG Hit With Negative News Amid An Already Compromised Chart Set-UP

FAANG Focus: GOOG-- has pierced to a new 3 month low at 1133.04, as the price structure flirts with its 2018 support line (see baby blue line on attached chart), which cuts across the price axis this afternoon at 1145. A close beneath the support line will be a negative technical sign for GOOG, and increases the likelihood that GOOG is heading for a test of much more significant support along its 14 month support line, now in the vicinity of 1067.00. Last is 1133.02... *** Negative news just came out about GOOG, which pressed the stock to a new intraday low while I was preparing this update. Inability of GOOG to claw its way above 1145 on a closing basis today will be a negative omen for the stock...

10 08 18 GOOG 1255 GIF
10 08 18 GOOG 1255 GIF

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