Is Google taking a break before a new all-time high?
After the marginal high made in 1286, Google and the FAANG dropped strongly due to the fear around the trade war and a potential bursting bubble. Powell´s last words brought calm to the market as a cut in the interest rate can happen if it is needed. The speed of the current decline from the last top is breaking the time and speed connection with the previous upward sequence from 970, increasing the probabilities of a continuation of downward movements to the light blue attractor located in the non-trend zone between 1233 – 671 at the weekly range. In the graphic, we can see light green areas, corresponding to the attractors at a lower degree of sequences and where the overlaps are strong areas to bring in the price and where investors sentiment can change. If An upward bounce happens in the light blue area increases the chances for new all-time highs, getting the final confirmation with the break of the upper key level.Back to Blog