{"id":211484,"date":"2024-09-10T05:09:21","date_gmt":"2024-09-10T09:09:21","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=211484"},"modified":"2024-09-23T11:15:10","modified_gmt":"2024-09-23T15:15:10","slug":"chart-advisor-will-alphabet-bounce-off-its-support","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/","title":{"rendered":"Chart Advisor: Will Alphabet Bounce Off its Support?"},"content":{"rendered":"\n<p>By\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=756e9f9a19c542debe408c0540186806&amp;_e=ZDs1qRx4OcWAjgOWiVFWICuDiU7iwDCXbRBtYVC13Se89-f-HrgP9AKlqBAv6xacnOyydcFa5g1WN1Mm0BM3ol2ykLBnfW2o7mbKlbGudfqCFz450Gdh6QDxweAA8mJgACyhVjVu2xG5Y6fX-qJ3w_w4JqJrxZvsEoNWWDuy0dhH78c4dah_AvVUHuETOqr0VhC1qE9lKt8B9bJsPgzhdsgO0ddg935iMs3dT48oLVCbEWA4-PsopfJhkGjUbtFrPs2hJ8Pz3o9zNvQ89-4NHuK_7d7EveJyNXVYwnfzoc576vi3I_vyy4D48xSV-yqs_qEIMO5_DROvoZW-88bqM782njdm5k7joxiJhWwcwqk3TjSC-l2cRQcyx0Fv2YkCcIIY3EPY4NjlfLX69L7cTQw3P8cskKCZgCMUlHOmLkLdSyhM46-YFH1bmhN4-R10zMenF5DmIhfZFwje8sHoXiKPm2Vz_wyQWVZNwcIE8g8%3D\">Jay A. Petit, CMT<\/a><\/p>\n\n\n\n<p><strong>1\/ Bitcoin in Consolidation<\/strong><\/p>\n\n\n\n<p><strong>2\/ Alphabet Make or Break?<\/strong><\/p>\n\n\n\n<p><strong>3\/\u00a0Energy Infrastructure Uptrend<\/strong>]<\/p>\n\n\n\n<p><em>Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1\">1\/<\/h2>\n\n\n\n<p><strong>Bitcoin in Consolidation<\/strong><\/p>\n\n\n\n<p>Since hitting an all time high in March, Bitcoin has been consolidating within a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/d\/descendingchannel.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">descending channel<\/a>. To understand how far the price might retrace, technicians utilize\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fibonacciretracement.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">Fibonacci<\/a>\u00a0retracement levels to help identify important technical levels of support and resistance.\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fibonacciretracement.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">Fibonacci<\/a>\u00a0levels are arrived at by first measuring a complete trend up or down, in this case the uptrend from the November 2022 low to the above mentioned highs. From there, a minimum of three levels can be calculated: a 38.20% retracement, a 50% and a 61.80% retracement of the measured move. I like to add the 23.60% as well as the 78.60%. These calculated levels then act as support on the way down for price, and once surpassed, they then act as resistance levels.<\/p>\n\n\n\n<p>As shown here below, the price of Bitcoin is oscillating between the 23.60% ($60\u2019000 area), currently acting as resistance, and the 38.20% ($51\u2019500 area), currently acting as resistance:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"634\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091-1100x634.png\" alt=\"\" class=\"wp-image-211485 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091-1100x634.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091-700x403.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091-1536x885.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9091.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/634;\" \/><\/figure>\n\n\n\n<p>The\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/m\/macd.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">MACD<\/a>\u00a0is offering an additional technical piece of confirming evidence that the downtrend off the March 2024 peak remains in place, further downside potential appears technically viable, notwithstanding the expected interim rallies, until the price is able to break out of its\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/d\/descendingchannel.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">descending channel<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2\">2\/<\/h2>\n\n\n\n<p><strong>Alphabet Make or Break?<\/strong><\/p>\n\n\n\n<p>On this weekly chart, we can see how Alphabet (Google) set an interim high around $150 in November 2021. This level has been tested four times in late 2021 and one more time in early 2022. From that point onwards, the price action took two years to create a\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=756e9f9a19c542debe408c0540186806&amp;_e=ZDs1qRx4OcWAjgOWiVFWIN2XlP96s19xq4LnOfcKncycZ9YjZuLv1eJ9GOzpe2ykPqDBE4mBQ10YcpIg0Buhu1w18Csfbfao1rSCBpe5TE1wBDsg9q4cIcHboFnojQ2SUVFZwSxhOCTn32xRJCgeNQSl9qaM3MU99lK8mf9Q0Y17raGAbX1b_FlqLoepj9b8PmUuG_0AohsfRTlFpD9YwUA9MMB2bsUzZfeLor_kdDZysBPzPYyyoPglYf2Ehjxu4Th3-jZsb4YyjNYxtYolyYzLQenoPOJC-Y2DpVqEBuEAYRkRV-jsI3ITpu1IuJu5YBuMfbEo92nQjL45Efl2ZyU1aUW3xGYxnBdpWX-G9uYMb1aU46M-TWpKyfO3A6SLLSbHrJLeHPSl2lSlpcezjCzht-OpYfsySwOIh6Rinf8wi4NfHMZteix7Ap1uDBnCGWv-Vg58cAkuxRoA7iiBcA%3D%3D\">basing pattern<\/a>\u00a0before hitting that $150\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=756e9f9a19c542debe408c0540186806&amp;_e=ZDs1qRx4OcWAjgOWiVFWIN2XlP96s19xq4LnOfcKncyDJL2_YaJGmh6-Bm9iVhL9U1Aq9YRhCow-pMYHC_sgg_5ybPTKYdLpgqp9SxXq7vyfnJP6qsRgDW5KcKJDDuN9HL48ONmz0n1rC4AhzREQHa6BYBhNTPBP_2ZgCKf3llvwnXszKdubFxKSYp0WxFKU7KkUKL1_1EKbE0tbqSobNEqtUGuRIFSZk3Ip1jgMl2E-JoyGMhntAWZeD3qt8w3OklaonsI0hFdUjVxRl5u8RH9pIUCOZ--sNNsF4AVlD_-FhPPqaBQI_p35CbT0hCVemZd2HBF0fMNUJ53SFJ9ChIzoq2YjtncpZdRVIUPYT2CYNfFcOtmZhh_L04DMJm8vopLRJ12rkWQ7YoZxfD3oj8-VAQw0hANQN2CROEQqvyXFuDdopnSlXcW34pqWFT9I4mplfnCFnqvHQXllSjie05oDRS6W4PeM0fBLVdqyfzBI8s2za3ILnpmY-0vQxR0B\">resistance<\/a>\u00a0area again. It did so a few times during the first two months of this year. The price has always been rejected, until it gapped up in March. That whole price action created a\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=756e9f9a19c542debe408c0540186806&amp;_e=ZDs1qRx4OcWAjgOWiVFWIN2XlP96s19xq4LnOfcKncxOiTd2_9-Y-G0neqwEzZyZHLt-ZhggHz33cWpVpeROL9NMGS3BdoixlvimyTlTYgEj3ncqm1RY8HqHc0WwavcWaXcqyciUVnLyK1VmZagvQlTQz20omBB3jqUNziwAntIYCPKuLIFGuawCvao1gyej3omdaJGVcNCIrTMC1mY22Gil-KThJ9m9c9vCNfCK2GKCBiYPKYBjwO81YN6e2rdZhkYQYT_yAJr18T8yAlgMLGbpeQU-mQRCuvOWwtZZ2d_XihsbvrpN-_jtaqqT5gK6_2hZfGFZ7Vs5PbVp14lRyht45QLyjsNwG6SIOm10U9XZ320TqBaAqDdADgFe8Vq-ptfbWZ1aAIKQntUIaM6kkvBLIVQvadXn0Yuj0sJtUtA9Y0u2c3wSgv5R41OtGgiansxipkMF-8YeYTeYIDneJcv5TxjlJWR2lQ54wS-EmVQ%3D\">Cup and Handle<\/a>\u00a0pattern:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"634\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092-1100x634.png\" alt=\"\" class=\"wp-image-211537 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092-1100x634.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092-700x403.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092-1536x885.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9092.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/634;\" \/><\/figure>\n\n\n\n<p>From there, the price broke through the $150 resistance area and confirmed it as\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=756e9f9a19c542debe408c0540186806&amp;_e=ZDs1qRx4OcWAjgOWiVFWIN2XlP96s19xq4LnOfcKncyDJL2_YaJGmh6-Bm9iVhL9U1Aq9YRhCow-pMYHC_sgg_5ybPTKYdLpgqp9SxXq7vyfnJP6qsRgDW5KcKJDDuN9HL48ONmz0n1rC4AhzREQHa6BYBhNTPBP_2ZgCKf3llvwnXszKdubFxKSYp0WxFKU7KkUKL1_1EKbE0tbqSobNEqtUGuRIFSZk3Ip1jgMl2E-JoyGMhntAWZeD3qt8w3OklaonsI0hFdUjVxRl5u8RH9pIUCOZ--sNNsF4AVlD_-FhPPqaBQI_p35CbT0hCVeyPNNUyP8hD0PSrkvGFl0W056EJ3_IdUzEOqlXU7V6yyDd-m8jYN5xXDe9UyGxoWAu4aQ5XbyxuMwmpMgLEnHxRbPoJBuSF2rOenFKZSit2IiNjWGAV82cgtC0QqQID1kmXvBVJPKceenpmCNGn4T2ITQa9iXoYkHAefX-AKPSfJxvxCoVkJClQrP9Vklqs2v\">support<\/a>\u00a0level in April. The price is currently reverting down since the July high and has now closed back into the $150\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/z\/zone-of-support.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">support area<\/a>.\u00a0<\/p>\n\n\n\n<p>Will Alphabet be able to bounce off that support or will the price break down to fill that $143-$146 gap? Technically, the longer a given level (support, resistance or trendline) has been in place, the more technically significant that level becomes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3\">3\/<\/h2>\n\n\n\n<p><strong>Energy Infrastructure Uptrend<\/strong><\/p>\n\n\n\n<p>Since its low in March 2020, MLPX (Global X MLP &amp; Energy Infrastructure ETF) has made higher lows and higher highs which is the definition of an\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/u\/uptrend.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">uptrend<\/a>. (There were some lower highs during a consolidation phase between June 2022 and February 2024).<\/p>\n\n\n\n<p>Based on\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fibonacciextensions.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">Fibonacci extension<\/a>\u00a0measurements taken from the June 2022 to July 2022 decline (in other words, the highs and lows of the aforementioned consolidation period), we can project upside targets for MLPX.\u00a0\u00a0<\/p>\n\n\n\n<p>MLPX has now lifted through its first Fibonacci price resistance at $52.20 and appears poised to address the next Fibonacci level at $62.33, notwithstanding interim pullbacks.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"634\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1100x634.png\" alt=\"\" class=\"wp-image-211538 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1100x634.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-700x403.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1536x885.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/634;\" \/><\/figure>\n\n\n\n<p>Offering additional technical evidence is the\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/r\/rsi.asp?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=14486324-20240909&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=090924\">RSI<\/a>, since it has alleviated from its oversold condition in April 2020, it has never gone below 35 and has been overbought (a sign of strength as it is evidence of buying interest) a few times, which denotes a bullish regime.<\/p>\n\n\n\n<p>&#8212;-<\/p>\n\n\n\n<p>Originally posted 9th September 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Jay A. Petit, CMT 1\/ Bitcoin in Consolidation 2\/ Alphabet Make or Break? 3\/\u00a0Energy Infrastructure Uptrend] Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may [&hellip;]<\/p>\n","protected":false},"author":186,"featured_media":211540,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[21,14,16,18,6,8,9,22,23,3],"tags":[567,187,4100],"contributors-categories":[13686],"class_list":{"0":"post-211484","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities","8":"category-etfs","9":"category-forex","10":"category-macro","11":"category-north-america","12":"category-region","13":"category-securities","14":"category-stocks","15":"category-technical-analysis","16":"category-traders-insight","17":"tag-googl","18":"tag-macd","19":"tag-mlpx","20":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Will Alphabet Bounce Off its Support?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/211484\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Advisor: Will Alphabet Bounce Off its Support? | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"By\u00a0Jay A. Petit, CMT 1\/ Bitcoin in Consolidation 2\/ Alphabet Make or Break? 3\/\u00a0Energy Infrastructure Uptrend] Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-10T09:09:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-23T15:15:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1106\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Contributor Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Contributor Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Contributor Author\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\"\n\t            },\n\t            \"headline\": \"Chart Advisor: Will Alphabet Bounce Off its Support?\",\n\t            \"datePublished\": \"2024-09-10T09:09:21+00:00\",\n\t            \"dateModified\": \"2024-09-23T15:15:10+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/\"\n\t            },\n\t            \"wordCount\": 597,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/09\\\/9093-1.png\",\n\t            \"keywords\": [\n\t                \"GOOGL\",\n\t                \"MACD\",\n\t                \"MLPX\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"Commodities\",\n\t                \"ETFs\",\n\t                \"Forex\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Technical Analysis\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/\",\n\t            \"name\": \"Chart Advisor: Will Alphabet Bounce Off its Support? | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/09\\\/9093-1.png\",\n\t            \"datePublished\": \"2024-09-10T09:09:21+00:00\",\n\t            \"dateModified\": \"2024-09-23T15:15:10+00:00\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-will-alphabet-bounce-off-its-support\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/09\\\/9093-1.png\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/09\\\/9093-1.png\",\n\t            \"width\": 1920,\n\t            \"height\": 1106,\n\t            \"caption\": \"Chart Advisor: Will Alphabet Bounce Off its Support?\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\",\n\t            \"name\": \"Contributor Author\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/contributor-author\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Chart Advisor: Will Alphabet Bounce Off its Support?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/211484\/","og_locale":"en_US","og_type":"article","og_title":"Chart Advisor: Will Alphabet Bounce Off its Support? | IBKR Campus US","og_description":"By\u00a0Jay A. Petit, CMT 1\/ Bitcoin in Consolidation 2\/ Alphabet Make or Break? 3\/\u00a0Energy Infrastructure Uptrend] Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may [&hellip;]","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/","og_site_name":"IBKR Campus US","article_published_time":"2024-09-10T09:09:21+00:00","article_modified_time":"2024-09-23T15:15:10+00:00","og_image":[{"width":1920,"height":1106,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png","type":"image\/png"}],"author":"Contributor Author","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Contributor Author","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/"},"author":{"name":"Contributor Author","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485"},"headline":"Chart Advisor: Will Alphabet Bounce Off its Support?","datePublished":"2024-09-10T09:09:21+00:00","dateModified":"2024-09-23T15:15:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/"},"wordCount":597,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png","keywords":["GOOGL","MACD","MLPX"],"articleSection":["Commodities","ETFs","Forex","Macro","North America","Region","Securities","Stocks","Technical Analysis","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/","name":"Chart Advisor: Will Alphabet Bounce Off its Support? | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/#primaryimage"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png","datePublished":"2024-09-10T09:09:21+00:00","dateModified":"2024-09-23T15:15:10+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-will-alphabet-bounce-off-its-support\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png","width":1920,"height":1106,"caption":"Chart Advisor: Will Alphabet Bounce Off its Support?"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485","name":"Contributor Author","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/contributor-author\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/09\/9093-1.png","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/211484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=211484"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/211484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/211540"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=211484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=211484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=211484"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=211484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}