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19.05.202315:40 Forex Analysis & Reviews: Technical analysis on GOOG stock price for May 19th, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 19.05.2023 analysis

Black line -resistance

Blue lines- expected rise equal to height of cup

Red lines- bullish flag

In our previous analysis on GOOG stock price we talked about the short-term bullish flag formation price was exhibiting. Since then price has broken the bullish flag pattern upwards and price continues making higher highs. Short-term trend is clearly still bullish as price is approaching both the cup and handle and the bullish flag targets. Previous resistance is now support, so bulls do not want to see price break below $117. Upside expected target area remains at $127-$130 zone.

Alexandros Yfantis
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