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Alphabet Inc., Technical Analysis

2/22/2023 10:12 AM

The shares of the American holding company Alphabet Inc. are moving within a global corrective trend, around 92.00.

On the daily chart, a global ascending channel with dynamic boundaries of 90.00–110.00 is being formed, within which the quotes have reversed at the resistance line and are approaching the support level.

The four-hour chart shows that the downward movement has a high potential for continuation, and the channel support line at 90.00 may be broken soon, which is confirmed by the presence of a local Head and shoulders reversal pattern with the Neckline at 92.00.

Technical indicators keep a stable sell signal: fast EMAs on the Alligator indicator are moving away from the signal line, actively expanding the range of fluctuations, and the AO histogram forms downward bars below the transition level.

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