Alphabet Inc. (GOOG/NASD): general review
11 May 2018, 11:01
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 1104.89 |
| Take Profit | 1125.00, 1150.00, 1170.00 |
| Stop Loss | 1075.00 |
| Key Levels | 990.00, 1010.00, 1060.00, 1100.00, 1130.00, 1175.00 |
Current trend
Alphabet Inc. shares rose by 7.9% since early May, fully recovering lost ground after the fall on the publication of the quarterly report on April 23. Fears of investors regarding the aggressive investment strategy of the company put pressure on the issuer's quotes.
Alphabet Inc. continues to develop the cloud computing business. The company plans to buy Velostrata, an Israeli startup which specializes in porting the company's internal corporate infrastructure to cloud providers.
Last week, Alphabet Inc. share price increased by 7.21%. S&P 500 went up by 2.21% within the same period.
Support and resistance
Since the beginning of this week there have been aggressive purchases of company shares. Yesterday, the growth of #GOOG quotations exceeded 1.3%. The issuer approached the key resistance level of 1100.00. 1060.00 is a "mirror" support level. The instrument has the potential to further resumption. Indicators show the strength of the buyers: the price has consolidated above MA(50) and MA(200), and MACD is in the positive zone. Positions are better to be opened in line with the current trend.
Comparing company's multiplier with its competitors in the industry, we can say that #GOOG shares are neutral.
Support levels: 1060.00, 1010.00, 990.00.
Resistance levels: 1100.00, 1130.00, 1175.00.
Trading tips
In case of breaking and retesting of the key resistance level of 1100.00, the growth of the company's quotations is expected. Potential profits should be locked in by orders at 1125.00, 1150.00 and 1170.00. Stop-loss will be placed at the level of 1075.00.
A trailing stop is to be used for positions.
Implementation period: 3 days.
Alphabet Inc. shares rose by 7.9% since early May, fully recovering lost ground after the fall on the publication of the quarterly report on April 23. Fears of investors regarding the aggressive investment strategy of the company put pressure on the issuer's quotes.
Alphabet Inc. continues to develop the cloud computing business. The company plans to buy Velostrata, an Israeli startup which specializes in porting the company's internal corporate infrastructure to cloud providers.
Last week, Alphabet Inc. share price increased by 7.21%. S&P 500 went up by 2.21% within the same period.
Support and resistance
Since the beginning of this week there have been aggressive purchases of company shares. Yesterday, the growth of #GOOG quotations exceeded 1.3%. The issuer approached the key resistance level of 1100.00. 1060.00 is a "mirror" support level. The instrument has the potential to further resumption. Indicators show the strength of the buyers: the price has consolidated above MA(50) and MA(200), and MACD is in the positive zone. Positions are better to be opened in line with the current trend.
Comparing company's multiplier with its competitors in the industry, we can say that #GOOG shares are neutral.
Support levels: 1060.00, 1010.00, 990.00.
Resistance levels: 1100.00, 1130.00, 1175.00.
Trading tips
In case of breaking and retesting of the key resistance level of 1100.00, the growth of the company's quotations is expected. Potential profits should be locked in by orders at 1125.00, 1150.00 and 1170.00. Stop-loss will be placed at the level of 1075.00.
A trailing stop is to be used for positions.
Implementation period: 3 days.
No comments:
Write comments