GOOGL, Z (Zillow) Updates 08/10

GOOGL: weekly chart shown, since 2009 price low. Price is now most likely in major-4 of primary-V of Cycle 1.  Bit of a busy chart, but it shows the primary (blue) Fib-extensions, a yellow bull flag (price target reached to the T) and the primary V=I relationship (also reached!).  Hence, since both price targets have been reached, upside potential will likely be limited, but the 300% primary extension is at $1100 and would make for an ideal C-1 target. At this stage it’s unclear where (yellow) major-4 will bottom, but the 38.2% retrace is at around $900.

googl weekly

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Z (Zillow): counts well as having complete 5 waves up off it’s low after it’s IPO in 2015. Price should be about ready to complete (red) intermediate-c of (yellow) major-a to ideally the 200d SMA, which will correspond to the c=1.236x a relationship. A rather common Fib-extension for c-waves. I then expect a major-b bounce to the 50d SMA, after which we should expect major-c down to the white target zone: 50-61.8% retrace of all of primary I/A; typical II/B wave retracement level. We can also see that this zone clearly represents stiff Support/Resistance (October 2015 high, October 2016 low, March 2016 low). This is at around $33-$29.

z daily