Alphabet (AKA Google) has had a rough three days, falling each day since its earnings came out on Monday. I noticed something interesting, however. Thursday’s low came precisely at the Fibonacci fan line.
This is one of a series of fan lines I drew a long time ago, and as you can see, the stock had steadily climbing up that particular fanline with virtual certitude. So this is either a fantastic time to go long a stock which has proved itself to have Herculean strength, or we’re very close to an important failure for the first time in a decade.
