Stocks

Alphabet gathers positive momentum - Analysis - 19-02-2019

2019-02-19 12:34:21 GMT (Economies.com)

Alphabets stock fell 0.72% in the last session, or 8.02 points, after the resistance of 1123.79 held on, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 1273.89 to 973.69), while gathering momentum to help it rise anew, with positive support from the 50-day SMA, coupled with positive signals from the RSI. 

 

Therefore we expect the stock to return higher, especially if the resistance of 1123.79 was breached, targeting the next one at 1159.21, which represents the ratio 61.8%. 

 

Expected trend for today: Likely Bullish 

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