Alphabet Inc. (Google): new bullish technical picture drawn on daily chart

Alphabet Inc. (Google) technical chart indicators and studies suggest broad uptrend, so today trading session forecast is for further price extensions.

On the 01/02/2016 Alphabet Inc. (Google) close was at 770.77 (+1.24%). Marked a series of 3 consecutive higher highs. New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2). Technical chart indicators and studies suggest broad uptrend, so today trading session forecast is for further price extensions towards the most significant resistance levels. The major oscillators confirm the upward trend. Marked a third consecutive positive trading session. We suggest to monitore today closing.
ALPHABET

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 734.43). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 01/02/2016.

Performance: 7 trading days= +3.40% – 15 trading days= +5.14% – 30 trading days= +0.12%

Resistance levels: R1= 778.45 – R2= 786.12 – R3= 802.33
Pivot Point: 769.91
Support levels: S1= 762.24 – S2= 753.70 – S3= 737.49


DAILY TRADING SIGNALS

Buying opportunity above 772.47, targets minor resistance at 782.02 and perhaps as far as strong resistance at 788.73, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 805.76.

Selling opportunity below 766.30, targets minor support at 756.82 and perhaps as far as strong support at 750.27, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 733.62.