Follow the signal from Sequential TD technical analysis (Confrontation) The index in which he participated Google (Nasdaq: Google) stock On May 26, the famous analyst is on the chain XAli Martinez took to social media on Wednesday To share Next target for technology stocks.
Specifically, the expert noted that according to his previous assessment, GOOGL shares reached $392 on May 27, which led him to believe that his ultimate goal was presented by Sequential TD – $402 – Still in play.
The final caveat along the way, as Martinez noted, is that Google stock must remain above the support area at $383 for the forecast to remain valid.
TD Sequential is a pattern-finding analytical utility developed by Tom DeMark in 1994. It is designed to determine whether an interesting trend will continue or face a reversal based on the past performance of an asset.
Google stock price performance
Given the performance of Google stock itself, there is a risk at press time on May 28 that Ali Martinez’s target will be negated.
Specifically, although the stock is 0.21% in the green on the weekly chart, it only reached the $392 mark briefly on Wednesday and rebounded to its recent closing price of $388.83 at the closing bell.
Furthermore, GOOGL shares were in the red in Thursday’s pre-market session and are trading at $386.75.
What’s next for Google stock?
However, Blue chip The tech giant appears to be going through a consolidation phase after a strong rally in April that took it to 23.38% YTD, and Developments to last artificial intelligence (Amnesty International) Related arrows indicate that the next breakout will be to the upside.
Technical indicators are based on the last 24 hours, one week, and one month, and are retrieved from TradingView By Finbold on May 28 All seem to support the optimistic outlook as an overall reading of “Buy” appears.
Wall Street analysts They appear to have a similarly positive disposition, as the vast majority of notes issued over the past week rated Google shares a “buy,” and none issued a “sell” recommendation, according to data Feinbold retrieved from TipRanks On Thursday morning.
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