Alphabet's sell pressure builds again
Alphabet shares fall 2.9% as sellers take firm control again
Alphabet's sell pressure builds again
Our view last week
Money flow on Alphabet turned negative this week, with sellers taking 72% of volume: last week's 6.7% rebound has stalled, and the stock is down just 0.8%, in the fifth week of its sell signal. The daily chart still shows the double bottom in the 341 area, source of a 5% intermediate rebound; price is now working between the daily Bollinger Band, area 358, and the daily pivot point average, area 356.
This week's summary
Alphabet is a sell signal in its sixth week, and the late-June rebound is now behind it: this week sellers took 84% of volume, the stock lost 2.9%, and money flow turned negative again. The double bottom in the 336 area still holds, but price is now working lower, squeezed between the 100-day average and the daily pivot point, just above the 345 area.
IQS Phase
55
ordinary
Signal Strength
32
decline starting to make lower lows
Sizing
REDUCED
Ranking
#84 / 140
US stocks
Trade P&L %
+3.59%
from signal to today
restricted Platinum content