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Google, Beginning a Short Term Downtrend

|Includes:Alphabet Inc. (GOOG)

Google's buyers are running low and more sellers are entering.

it's created a "head and shoulders pattern which indicates that at the moment there aren't a lot of buyers above the levels of $817.

furthermore it broke the support at $791 along with the trend line and the 21 M.A. which also acted as resistance at $817 (the top of the shoulders).

volume levels have also rising for the past couple of weeks- simultaneously with the beginning of the downtrends.

good chance it will try to hit next resistance at $740 as long as it stays bellow $791.

heads up- we have a $21 price gap bellow that next support- it is very possible chance it will be close.

(click to enlarge)Click to enlarge

Stocks: GOOG