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

On the chart of the #GOOG M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 166.39, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 89 points.

The Bullish pennant pattern is formed on the #GOOG M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 167.42, a further uptrend is possible.

The Double Bottom pattern has been formed on #GOOG M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 164.58 is broken. The further movements will rely on the width of the current pattern 72 points.

According to the chart of M15, #GOOG formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 165.12/166.39 whereas the upper border goes across 167.36/166.39. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of #GOOG will breach the upper border to head for 166.62.

According to the chart of M5, #GOOG formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 167.36 and 165.07 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 229 pips. Outlook: If the upper border 167.36 is broken, the price is likely to continue its move by 166.50.

According to the chart of M15, #GOOG formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 164.77 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on #GOOG M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 166.05 is broken. The further movements will rely on the width of the current pattern 123 points.

The Triple Top pattern has formed on the chart of the #GOOG M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 166.03/166.09 with the upper limit 166.42/166.44; the projection of the width is 39 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 166.03, the price is most likely to continue the downward movement.

The Bullish pennant signal – Trading instrument #GOOG M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 167.57, with the prospect of the next move being a projection of the flagpole height.

The Bullish pennant pattern is formed on the #GOOG M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 165.06, a further uptrend is possible.