A close below the ascending trend line signals significant multimonth downside for GOOGL, targeting ~272.
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So, first one, Google. Now, Google's intriguing. It's not so much a day trade here, but look at this ascending trend line. Now, the reason this is important is that if this ascending trend line finally breaks, this opens a trapoor of significant downside over the next multimonth period, potentially back down, I would say, to about the 272 level.
Right now, in the early trading pre-market, we are trading below the trend line. But what matters isn't where it opens. What matters is where it closes. So watch on gold here go, excuse me, on Google/Alphabet.
Does it close below this major trend line today? It is a long trend line going back to the lows from 2025. Hitting seven times now on this trend line. Remember, the more a trend line weaken or the more trend line hits, the more it weakens.
Watchpoints
What this channel has said about $GOOGL
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