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Possible Bullish Inside Day Candle Pattern Detected for Alphabet Inc-A (NASDAQ:GOOGL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Alphabet Inc-A (NASDAQ:GOOGL) based on the price action in the company's shares. Yesterday's price range of $1,456.61 and $1,467.79 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Alphabet Inc-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Alphabet Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

Alphabet Inc-A (NASDAQ:GOOGL) is currently priced 12.2% above its average consensus analyst price target of $1246.32. The stock should find initial support at its 50-day moving average (MA) of $1378.13 and further support at its 200-day MA of $1235.74.

In the past 52 weeks, shares of Alphabet Inc-A have traded between a low of $1027.03 and a high of $1500.58 and closed yesterday at $1418.94, which is 38% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Alphabet Inc-A and will alert subscribers who have GOOGL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle alphabet inc-a

Ticker(s): GOOGL