In this post, we are going to look at Google Stock Forecast, Alphabet Inc Class A (GOOGL) for 2021. We will be looking at monthly & weekly price charts of Alphabet Inc Class A (GOOGL). Do your own due diligence before trading or investing in Alphabet Inc Class A (GOOGL). Our research is for knowledge & information purpose.
Monthly chart analysis of Alphabet Inc Class A (GOOGL)
On Monthly charts, GOOGL is forming a second red color candle. It could be a potential sign of pullback or retracement due to profit bookings of short selling. The below monthly time frame candlestick charts shows GOOGL trading near its high.
If we see a pullback in GOOGL at these levels, it would be wise for us to know the support levels from where the prices can again rise. Fibonacci retracement levels could give us a strong support levels. Below image shows different Fibonacci retracement levels and future potential support levels.
Monthly support for GOOGL stock as per Fibonacci retracement levels is between 1325-1523. You can look for a long trade setup if GOOGL price retraces till these levels and shows signs of holding these levels. On weekly charts, GOOGL has another support level that coincides with monthly support Fibonacci retracement levels.
Weekly support levels of Alphabet Inc Class A (GOOGL)
There are multiple support levels on weekly charts of GOOGL. I have considered the support levels that coincides with monthly Fibonacci support levels as discussed above.
Weekly support levels for GOOGL is between 1402.15-1587.05. This could be a strong support levels for GOOGL.
Final thoughts on Google stock forecast for 2021
For now, GOOGL is trading near its high and there is high chance of a pullback at these levels. So it’s wise to wait and watch GOOGL price to come near marked support levels and then look for a long entry. I have not discussed GOOGL on a daily time frame chart as it might confuse us with more support levels. I will be updating this post as soon as I see next major move coming in Google stock price.