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Google Technical Analysis - Google Trading: 2023-10-27
Alphabet Inc. Technical Analysis Summary
Below 122.24
Sell Stop
Above 128.64
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
Alphabet Inc. Chart Analysis
Alphabet Inc. Technical Analysis
The technical analysis of the GOOGLE stock price chart on 4-hour timeframe shows #S-GOOG,H4 is retreating after breaching below the 200-period moving average MA(200) which is leveling off. RSI is in oversold zone. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 122.24. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 128.64. After placing the order, the stop loss is to be moved every day to the fractal high indicator following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (128.64) without reaching the order (122.24), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Alphabet Inc.
Alphabet stock dropped despite third quarter revenue beat. Will the GOOGLE stock price retreating reverse?
Stock of Alphabet, Google’s parent company, fell 9.6% on Wednesday despite Q3 revenue beat. Alphabet’s revenue rose 11% to $76.7 billion, topping analyst expectations at $75.9 billion. Third quarter revenue beat forecasts with analysts attributing better than expected performance to increase in advertising sales. However investors sold off the stock on Alphabet’s disappointing cloud results. Google posted cloud revenue of $8.41 billion, amounting to 22% growth, slower than the 28% growth the company recorded in the second quarter. The slowing of cloud revenue growth was interpreted as a result of Google Cloud’s loss of market share to competitors like Microsoft. The $13.20 decline Wednesday in Alphabet’s stock price resulted in almost $180 billion loss in its market value.
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