Alphabet Inc. (GOOG/NASD): general analysis
07 September 2018, 13:17
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 1159.90 |
| Take Profit | 1140.00, 1120.00, 1100.00 |
| Stop Loss | 1180.00 |
| Key Levels | 1100.00, 1140.00, 1160.00, 1190.00, 1220.00, 1250.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1190.10 |
| Take Profit | 1220.00, 1240.00 |
| Stop Loss | 1170.00 |
| Key Levels | 1100.00, 1140.00, 1160.00, 1190.00, 1220.00, 1250.00 |
Current trend
Yesterday, shares of Alphabet Inc. renewed month’s minimum, having lost 5,45% of the value since the end of August. The issuer declines along with the quotations of Internet companies Facebook Inc. and Twitter Inc. due to the beginning of hearings in the Senate about the influence of social networks on the US President Elections in 2016.
During the last week, Alphabet Inc. decreased by 6.23% against the fall of S&P 500 index by 1.20%.
Support and resistance
Since the beginning of this week, #GOOG is selling aggressively. The instrument renewed local lows. At the moment, the company's shares are testing the support level of 1160.00. The level of 1190.00 is as a "mirror" resistance. There is potential for further correction. Indicators do not provide clear signals: the price was fixed between MA (50) and MA (200); MACD histogram is in the negative zone and continues to decrease. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 1190.00, 1220.00, 1250.00.
Support levels: 1160.00, 1140.00, 1100.00.
Trading tips
Short positions can be opened after the price is set below the level of 1160.00. The closing of the profitable positions is possible at the levels of 1140.00, 1120.00, 1100.00. Stop loss is 1180.00.
Short positions can be opened after the price is set above the level of 1190.00 with the targets at 1220.00–1240.00. Stop loss is 1170.00.
Implementation period: 3 days.
Yesterday, shares of Alphabet Inc. renewed month’s minimum, having lost 5,45% of the value since the end of August. The issuer declines along with the quotations of Internet companies Facebook Inc. and Twitter Inc. due to the beginning of hearings in the Senate about the influence of social networks on the US President Elections in 2016.
During the last week, Alphabet Inc. decreased by 6.23% against the fall of S&P 500 index by 1.20%.
Support and resistance
Since the beginning of this week, #GOOG is selling aggressively. The instrument renewed local lows. At the moment, the company's shares are testing the support level of 1160.00. The level of 1190.00 is as a "mirror" resistance. There is potential for further correction. Indicators do not provide clear signals: the price was fixed between MA (50) and MA (200); MACD histogram is in the negative zone and continues to decrease. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 1190.00, 1220.00, 1250.00.
Support levels: 1160.00, 1140.00, 1100.00.
Trading tips
Short positions can be opened after the price is set below the level of 1160.00. The closing of the profitable positions is possible at the levels of 1140.00, 1120.00, 1100.00. Stop loss is 1180.00.
Short positions can be opened after the price is set above the level of 1190.00 with the targets at 1220.00–1240.00. Stop loss is 1170.00.
Implementation period: 3 days.
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