Alphabet Inc. (GOOG/NASD): general review
22 August 2018, 11:11
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 1189.90 |
| Take Profit | 1170.00, 1150.00, 1140.00 |
| Stop Loss | 1210.00 |
| Key Levels | 1140.00, 1160.00, 1190.00, 1220.00, 1240.00, 1270.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1220.10 |
| Take Profit | 1260.00, 1270.00 |
| Stop Loss | 1200.00 |
| Key Levels | 1140.00, 1160.00, 1190.00, 1220.00, 1240.00, 1270.00 |
Current trend
Alphabet shares are down since the beginning of last week and are currently trading at a 5% discount to the 52-week high, which was previously updated amid strong quarterly reports at the end of July. Revenue increased by 26% (YoY) to USD 26.2 billion, exceeding market expectations. Net profit fell by 8.6% (YoY) to USD 3.5 billion due to the payment of an EU fine of USD 5 billion.
In the next 6-9 months, Alphabet plans to launch a search application for the Chinese market, which will meet the requirements of the country's government.
Over the last week, Alphabet's shares showed a decline in value by 3.26% S&P500 went up by 0.81% within the same period.
Support and resistance
At the moment, #GOOG shares are consolidating. The current technical picture indicates a possible correction of the company's shares after prolonged growth. The emitter is testing local levels of support and resistance: at 1190.00 and 1220.00, respectively. Indicators don't give a clear signal: the price has consolidated above MA(50) and MA(200), and MACD is in the negative zone. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #GOOG shares are neutral.
Support levels: 1190.00, 1160.00, 1140.00.
Resistance levels: 1220.00, 1240.00, 1270.00.
Trading tips
If the price consolidates below the support level of 1190.00, one should expect a correction. Potential profits should be locked in by orders at 1170.00, 1150.00, and 1140.00. Stop loss – 1210.00.
If the price consolidates above 1220.00, one should consider buying the company's shares. The moving potential is aimed at 1260.00-1270.00. Stop loss – 1200.00.
Implementation time: 3 days.
Alphabet shares are down since the beginning of last week and are currently trading at a 5% discount to the 52-week high, which was previously updated amid strong quarterly reports at the end of July. Revenue increased by 26% (YoY) to USD 26.2 billion, exceeding market expectations. Net profit fell by 8.6% (YoY) to USD 3.5 billion due to the payment of an EU fine of USD 5 billion.
In the next 6-9 months, Alphabet plans to launch a search application for the Chinese market, which will meet the requirements of the country's government.
Over the last week, Alphabet's shares showed a decline in value by 3.26% S&P500 went up by 0.81% within the same period.
Support and resistance
At the moment, #GOOG shares are consolidating. The current technical picture indicates a possible correction of the company's shares after prolonged growth. The emitter is testing local levels of support and resistance: at 1190.00 and 1220.00, respectively. Indicators don't give a clear signal: the price has consolidated above MA(50) and MA(200), and MACD is in the negative zone. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #GOOG shares are neutral.
Support levels: 1190.00, 1160.00, 1140.00.
Resistance levels: 1220.00, 1240.00, 1270.00.
Trading tips
If the price consolidates below the support level of 1190.00, one should expect a correction. Potential profits should be locked in by orders at 1170.00, 1150.00, and 1140.00. Stop loss – 1210.00.
If the price consolidates above 1220.00, one should consider buying the company's shares. The moving potential is aimed at 1260.00-1270.00. Stop loss – 1200.00.
Implementation time: 3 days.
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