GOOGL On The Verge: A Bearish Turn Signals Potential Weakness In The Magnificent-7
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I mentioned on my tastylive show yesterday (and here, too, I think) that GOOGL was looking ready to turn lower. It put in a nice fat bearish engulfing pattern Wednesday, and it is following through with more weakness today.
The entire market is quite dependent on the entire Magnificent-7, so any weakness among these overinflated superstars is going to cause discomfort. I’d say there’s a pretty clean zone of weakness back down to that blue trendline.
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