BIG TECH RECOVERYThe Daily chart shows the composite price action for one share each of
GOOG
META
MSFT
AAPL
It shows a low of the year in mid-June about the same time as the SPY bottomed.
The Awesome Oscillator confirms the uptrend.
The uptrend seems to be bounded by an ascending parallel channel.
There has been a combined 10% price rise in the six weeks since with steady price
action including some retracement.
The high volume area of the profile could be resistance at its upper boundary
and so this composite of tickers could soon be at resistance.
Google (Alphabet)
GOOGL SHORT OFF 120 RESITANCE -Target 107 - SEP 34 rejections off 120 – 50% fib RETRACEMENT
Not Participating in Tech Rally =Weakness
MACD Histogram negative – Divergence
RSI Overbought
IF = Google BREAKS - VWAP AT 117
Bear Put Spread - 119 / 107 - 40% PROBABILITY = 1 RISK FOR 3 REWARD Potential Sept 3 Exp
THE BIGGER PICTURE FOR GLOBAL TECH IS OVERBOUGHT AND NEGATIVE
CPI NEXT WEEK
FED HIKE SEPT
UNEMPLOYMENT RISING
EUROPE RECESSION
CHINA SLOWING
WAR AND TENSIONS
7/27/22 GOOGAlphabet Inc (Google) Class C ( NASDAQ:GOOG )
Sector: Technology Services (Internet Software/Services)
Market Capitalization: $1.493T
Current Price: $113.60
Breakout Price: $114.80
Buy Zone (Top/Bottom Range): $112.80-$105.40
Price Target: $120.20-$121.80 (1st), $126.40-$129.10 (2nd)
Estimated Duration to Target: 36-38d, 65-68d
Contract of Interest: $QQQ 9/16/22 115c, $QQQ 10/21/22 115c
Trade price as of publish date: $4.60/contract, $6.50/contract
This one trade will make me a LEGEND...We have a once in a lifetime trading opportunity that will be occurring at the end of the trading day.
It is very rare that we know an asset will drop and the date that it will be dropping.
GOOG is experiencing a 1-20 stock split which means for every share that someone holds of GOOG, they will receive 20.
I am taking advantage of this drop on my Forex broker by selling GOOG.
The price of GOOG will be reduced by 95% at the end of the market close today.
If you have a broker that will allow you to SELL GOOG, go ahead and make that happen before 4:00 PM EST when the market closes.
Thank me on Monday.
Remember my name, Jeffery Boston Weatherford.
I will be legendary in this field.
You heard it hear first.
Many blessings trader.
Enjoy Jeffery's Comet 🌠
GOOGLE - LONGGoogle appears to have bottomed at a recent support zone that has held numerous time. I know most would identify this pattern as a "bear flag". However, I think keeping an open mind is crucial. Just follow the price.
Currently: good chance Google can bounce up to the top of the zone. From thereon, IF the overall market has steam - this stock can squeeze higher.
SHORT TERM: Bullish
$GOOG GOOGLE BIG Rising Wedge Bear Flag on the Daily Timeframe$GOOG GOOGLE
This rising wedge could be confused as a bear flag, however, both patterns are similar, bearish and generally followed by downside.
My guess is we fill the gap below the next support before seeing any major reversal on this stock.
Are there any hungry bears out there? GOOGLE this pattern and get ready!
On a fundamentals it is a buy buy buy long term according to all analyst because it doesn't have a sell rating. This wouldn't make most comfortable to enter short.
HOWEVER, google missed earnings Q1 2022 and it has been down trending since.
Google makes their money from search and unless they post good earnings or make an announcement I don't see why the gap below wouldn't fill based on TA.
Falling Wedge + Bullish RSI convergence on FAANGAlthough I biased bearish for the past year, the markets are clearly oversold and, furthermore, appear to be showing consolidative pattersn.
FAANG index is also showing bullish consolidation.
We have a falling wedge and a strong bullish RSI convergence.
I believe the recent downturn was also an ABC move.
So, in short, although we are down a lot, we have a very bullish outline despite the bearish macro-narrative.
GOOG Alphabet Stock SplitGOOG 20-for-1 stock split is scheduled to occur on July 15.
Companies that that did stock splits statistically had outperform the market in the 12 months following the split.
I think we will se GOOG trading at $2350 ahead of the split.
Looking forward to read your opinion about it.
GOOGL WARNING: If 2025 is lost, 1786 will be very fastGoogle is still in a big red channel downtrend sine the ATH at 3042 failing to hold even the median line last week. The lower red channel at 2025 will be tested.
If Google loses the 0.50 Fibo retracement, there will be a totally blank space (green box) until the next Fibo 0.618 at
1786. The decline will be very very quick. This capitulation most likely to happen after some impt catalyst
event. Then a reversal will follow after 1786 holds.
BULLISH CASE: if the black VWAP from pandemic low holds (also near 2025), Google will most probably just bounce off the lower red channel making a divergence with a slightly lower low before rally.
Not trading advice
GOOGL dailyGreen zones are potential good area to average in shares.
+ Back over 20day SMA
+ Need to hold blue zone, confluence with 20day
+ Historically good moving average: 150 weeklySMA
- Still not above neutral
- Declining moving averages (resistance on a uptrend)
- 2 gaps remaining
- This yellow box can look like a distribution phase after a long run up, we would now need to wait a new accumulation phase to get back in
Alphabet (NASDAQ: $GOOG) Is World's Top Search Engine 🍲Alphabet Inc. provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, platform, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.
Stocks at OPPORTUNITY Levels!Buenos dias! I am back from a vacation to Panama (the country, not the Redneck Riviera) where I had a refreshing time and I'm ready to hunt for opportunities and share! Many great stocks have pulled back to their 50% Retracement Levels. If you follow my ideas you know that this is my favorite technique for finding opportunities in any instrument.
I use a winner from this year, one of the best stocks of 2022, Coca-Cola NYSE:KO as a proof of concept as it is up over 7% from a second 50% Retracement retest last week. The new opportunities I am finding at these levels are:
NYSE:ACN
NASDAQ:AMAT
NYSE:NVR
NASDAQ:TSLA
NASDAQ:GOOG
M2 Adjusted FAAMNG Tutorial/AnalysisThe current FAANG symbol does not have a very long history. Depending on the symbol, you get a chart that either starts from mid-2019 or 2016. We get couple more years of data in this chart, back to early 2014. I weighted each stock equally according to its 60 month average, and adjusted for M2 expansion, which gives us a very consistent support line. There's also a horizontal resistance line that extends from 2018 onward that is currently being tested as support, which raises the questions:
Is historical support now resistance? Is the resistance line now support? Or will we drop below the resistance line once again?
It wouldn't surprise me if we got a bounce here to once again test that the Support line is *actually* now resistance and the drop in price wasn't a fluke. Which, maybe it was. But on the other hand, smaller caps have gotten completely crushed, look at the M2 Adjusted Russell 2000 for example:
We're getting close to the "value" zone, but we're still at the bottom range of wholesale prices. I wouldn't be surprised if there's even more stop-loss style liquidations at these prices.
There are many many unprofitable companies, roughly 50%?!, that are feeling the pain in the Russell. It's not crazy to think that once the smaller caps fall, the rest of the larger dominoes fall. First, there were drops in sort of intangibly valued companies like Netflix/Peloton. Market shrugged it off. Then we saw a single day -0.25 trillion$ valuation drop in Facebook. Market shrugged it off. Now in the past few weeks, Amazon is finally looking terrible, and this is the first time in YEARS that the market seems to be taking it seriously. How long until Apple/Tesla bite the bullet? The market can only shrug off so much localized losses before it becomes systemic. It's only a matter of weeks or months, in my opinion, until we see the remaining FAANMG and others reflect the state of rest of the market.
So how did i manage to get the symbol on the chart?
This method is not perfect. There's lots of ways to do this. I decided to equally weight each stock by their 60 month SMA, given that mean reversion is a well known phenomenon. But you can use any anything you wish, as long as it normalizes the price in a way that you like. Literally anything.
First, I wrote down the SMAs like this:
60 month SMA:
FB = 221.34
AMZN = 2250.99
AAPL = 85.60
MSFT = 173.64
NFLX = 380.58
GOOG = 1585.70
Notice that AAPL has the lowest average, 85.6.
We can use AAPL as our "benchmark".
Divide every SMA by 85.6:
FB = 2.5857
AMZN = 26.296
AAPL = 1
MSFT = 2.0285
NFLX = 4.4460
GOOG = 18.524
Now we can add each price together, and divide by our adjuster that we just calculated, to get a fairly crude, but accurate enough, equally average-weighted basket:
AAPL+
FB/2.5857+
AMZN/26.296+
MSFT/2.0285+
NFLX/4.4460+
GOOG/18.524
Mash it all together, you get:
NASDAQ:AAPL+NASDAQ:FB/2.5857+NASDAQ:AMZN/26.296+NASDAQ:MSFT/2.0285+NASDAQ:NFLX/4.4460+NASDAQ:GOOG/18.524
And adjust for M2 if you want:
(NASDAQ:AAPL+NASDAQ:FB/2.5857+NASDAQ:AMZN/26.296+NASDAQ:MSFT/2.0285+NASDAQ:NFLX/4.4460+NASDAQ:GOOG/18.524)/FRED:WM2NS
This looks ugly though. The value is so small, there's no horizontal bars on the chart because of a display bug in TV or some other problem. So we can simply multiply the entire series by a value. in this case 15, until we get something that looks good.
(NASDAQ:AAPL+NASDAQ:FB/2.5857+NASDAQ:AMZN/26.296+NASDAQ:MSFT/2.0285+NASDAQ:NFLX/4.4460+NASDAQ:GOOG/18.524)/FRED:WM2NS*15
There's a lot of ideas fairly similar to this out there, but I hope this helps someone who might be curious how people came up with these crazy long symbols. Try it with your favorite sectors! Make your own sector benchmarks. You can combine up to 10 symbols at once! Here we only used 6 symbols (7 if you include WM2NS).
Good luck and don't forget to hedge your bets :)
GOOG to be declared a monopoly soon target $742Bill is moving forward with even more support to break up Googles racket of digital advertising which accounts for 80% of income. Bill will make them sell their advertising broker division so they cant set their rates. Government says theyve been marking up as high as 42%.
If this bill passes Google gonna have a 60% drop. They still will have a monopoly on the search engine. So they will likely continue buying up more websites and manipulating results to place thiers up top. Just like they did when they invested in retailmenot and the other coupon sites.
Not financial advice but be careful