We expect Google to have finally formed a major long-term top and to have already begun rolling into a long-term correction. This correction will open massive opportunities for investors to buy or accumulate this stock.
Google has set its interpreted major high at $404.47. For the ongoing corrective phase, we have defined a Fibonacci retracement zone where we anticipate the market to form a long-term bottom and conclude the correction.
Long Entry Levels:
- 50% at $241.10
- 61.8% at $203.90
- 78.6% at $150.93
Stop Loss: 1% below the zone at $149.41
This zone is expected to offer prime entry positions within this market at very discounted prices — levels that this stock is unlikely to revisit once Google validates this zone. However, Google is still in the early stages of its corrective phase.
Should anything happen with this stock, we will update you immediately.
Kind regards,
Monalytics
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