FX.co ★ Patterns #GOOG | Alphabet Inc. Stock Price

The Bearish pennant pattern has formed on the #GOOG M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 151.94; the projection of the flagpole height is equal to 824 pips. In case the price breaks out the pattern’s bottom of 151.94, the downtrend is expected to continue for further level 151.64.

According to the chart of M5, #GOOG formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 154.17, the lower border is 152.10. The signal means that a short position should be opened after fixing a price below the lower border 152.10 of the Bearish Rectangle.

The Double Bottom pattern has been formed on #GOOG M5. Characteristics: the support level 152.21; the resistance level 154.17; the width of the pattern 196 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 207 points.

The Bearish pennant pattern has formed on the #GOOG M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 151.97 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Bullish pennant signal – Trading instrument #GOOG H1, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 173.16, with the prospect of the next move being a projection of the flagpole height.

On the chart of #GOOG M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 169.90; the lower boundary 168.98; the width of the pattern 92 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 168.83 level.

According to the chart of M5, #GOOG formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 165.68/165.13 whereas the lower border goes across 164.59/165.13. The pattern width is measured on the chart at 109 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 165.13 is broken, the price could continue its move toward 165.28.

The Triple Top pattern has formed on the chart of the #GOOG M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -16, support level -95, and pattern’s width 159. Forecast If the price breaks through the support level 163.93, it is likely to move further down to 165.42.

The Double Top reversal pattern has been formed on #GOOG M5. Characteristics: the upper boundary 165.52; the lower boundary 163.93; the width of the pattern is 164 points. Sell trades are better to be opened below the lower boundary 163.93 with a possible movements towards the 163.78 level.

According to the chart of M5, #GOOG produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 163.66 while the median line of the Neck is set at 164.80/164.87. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #GOOG will go towards 165.02.