"Forget the AI bubble talk – GOOGL's chart says otherwise." Nate Bear, Lead Technical Tactician, Monument Traders Alliance Editor's Note: One of the best ways to learn how to trade is not by watching, but by doing. That's why next week – our Lead Technical Tactician Nate Bear is hosting a FREE "3-day trading challenge." This is your chance to put your trading skills to test. And if you rank among the top - you'll be eligible to win over $50,000 worth of prizes. Click here to sign up today for the FREE "3-Day Trading Challenge." - Stephen Prior, Publisher The FOMC is behind us and the reaction was bullish. Well… it WAS bullish up until Oracle (ORCL) fell 14% after earnings and major tech stocks like Nvidia (NVDA) and AMD (AMD) took a dive. Next thing you know, the "AI bubble" talk hit the headlines again. But here's why I'm not buying it. While tech might be a risk off right now, I still believe GOOGL is "the one" in that space. Take a look at its chart below. That chart looks awesome. As you'll see, GOOGL has been trending up with consistent consolidation periods. While there was some news on Open AI that caused a $7 drop yesterday, I still think the chart structure is solid. Which is why I believe GOOGL could be on its way to all-time highs. So today I'll be looking for GOOGL to break out. If it has a good day, I can continue to add to it. GOOGL is the top chart on my watchlist right now. For the trade setup, I'll be looking at GOOGL $325 calls for next week right out of the gate. |
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