GOOG: Inverted Cup with Handle Google is playing out an inverted cup and handle with a conservative price target of $73-76. The price target should be lower, around $71.50, but I shaved a little off because there is some old support from the Jul-Oct 2020 period that should buoy the price, at least for a bit.
The daily EMA ribbon flipped bearish in April and since then a precipitous 38% downslide has ensued, the most recent retest of the daily EMA on Oct 24th yielded another crushing rejection. Price should be ready to run again to the downside as it recently slipped through a support/resistance line unrelated to the pattern around $89.40 and has since completed a pullback and been rejected.
FAANG Is about to go higher!Traders and Investors, FAANG index has reached an FCP zone which is also a previous structure level. This can create a good bounce up (BULL) opportunity for all FAANG stocks.
Facebook (Meta)
Apple
Amazon
Netflix
Google
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GOOGLE A very bullish 2023 and this chart shows why.Alphabet Inc. (GOOG) broke two weeks ago below its 1W MA200 (orange trend-line) for the first time since the March 2020 COVID crash. The next Support level is the 1W MA300 (red trend-line). Since its IPO, the stock has had very symmetric Cycles which with the help of the Sine Waves can show tops and bottoms for consistent sells and buys.
On this pattern, the price level is not as important as the timing. As you see even the latest (All Time) High was fairly accurately predicted by the Sine Waves. The next bottom is projected to be by the first week of January the latest. As a result, on a multi-year scale investment strategy, the time to buy Google comes closer and closer.
Based on the Fibonacci extension levels involved, every Cycle High is at least +0.5 Fib higher than the previous one (basically only one has been +0.5, the rest have been at least +1.0 Fib). As a result, the High of the next Cycle should be at least on the 4.5 Fibonacci extension, around $198.00!
Can 2023 be such a bullish year for the tech giant amidst the Bear Market of rising inflation?
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Google supported by weekly bullish div.Alphabet - 30d expiry - We look to Buy a break of 103.66 (stop at 99.49)
Price action looks to be forming a bottom.
Bullish divergence can be seen on the weekly chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
The RSI is trending higher.
103.47 has been pivotal.
A break of the recent high at 103.47 should result in a further move higher.
With signals for sentiment at oversold extremes, the dip could not be extended.
Our profit targets will be 114.49 and 118.49
Resistance: 103 / 106 / 112
Support: 100 / 98 / 96
Disclaimer – Saxo Bank Group.
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Google BUY Negative quarterly for Google
I bought GOOG shares on Friday, we are almost - 50% from the highs of February.
Negative quarterly, why?
Various reasons, analyzing the company economic balance sheet, we can see a considerable increase in the number of employees going from 150,000 to approximately 186,000.
This is a symptom of a recovery expected in 2023, with projects in the pipeline, especially on augmented reality and the integration of the navigation system of autopilot cars.
The numbers of the core business, the marketing on the various proprietary channels (search engine, youtube) are almost unchanged, a symptom that, despite the period of severe crisis, Google remains the first point of reference on the web where companies invest to advertise. its products. Other than the discourse on meta for example, which had rather worrying numbers.
On the hardware side, it should be noted that the pixel 7 has been released in its two versions, which has not yet brought the numbers, so we have to wait for the next quarter to see the trend of what seems to be really a gem, as opposed to the disappointment that was the pixel 6.
To report the complete flop of the Stadia gaming platform, which could certainly be supported in a better way, but which, as it was for Google plus, was left there, to implode on itself.
Here sometimes one wonders how a company like google can do such interesting projects and then not support them properly.
In any case, the company is a money machine, the market has discounted a lot and I thought it was time to enter, aware of the fact that, should it go down to the $ 70 area, I will enter again, being a very important volumetric support.
Target the highs, as a partial exit, to take home the profits, so this is a trade that could last months if not years.
Happy trading
Lazy Bull
Aplhabet Targeting A Test of 74.00Technical & Trade View
Alphabet Inc (Google) Class A
Bias: Bullish Above Bearish below 92.54
Technicals
Intraday 86.85 is primary resistance
Primary pattern objective is 74.00
Acceptance below 83.00 next pattern confirmation
Acceptance above 92.54 opens a test of 98.65
20 Day VWAP bearish , 5 Day VWAP bearish
Reversal about to start in Google!At this juncture we can see a clear completed 5 waves structure for Google on the daily timeframe confirmed by a bullish divergence with the RSI.
It would be nice to see the prices fall between the $89-$91 area where we can find a cluster of fibonacci's ratios.
If prices manage to bounce back from this target or even slighter before, prices should at minimum travel to $113 level in a corrective manner. Even though, this might look exciting for bulls, it will only be a rally before resuming the downtrend that will push prices lower than the temporary low that Google will make soon.
Overall, I am expecting the bottom of Google to happen any time soon and a rally all the way up to $113 for the weeks to come.
Technology Sector May Face A Rally SoonHello traders and investors, today we will talk about two technology stocks GOOGLE and META (Fcebook), which can be finishing final 5th wave from Elliott wave perspective.
As you can see, technology sector suffered the most in the last year, but what is interesting is that both GOOGLE and META can be now finishing a five-wave cycle from the highs. In Elliott wave theory, after every five waves, a three-wave A-B-C correction follows.
We have just noticed some big gaps down due to earnings miss, but considering that Google and Meta are trading in 5th wave with a potential spike before a reversal, there's a high probability for an A-B-C rally soon.
A-B-C recovery will ideally show up now at the end of 2022 or at the beginning of 2023.
All the best!
ALPHABET (GOOGL) 1D - Can BIG TECH FALL more in next quarter ? Holle Traders and Investors,
You can see Q3 resuluts of Big tech companies reported during recent days. Despite Alphabet reported growth (small but important) market is pricing it as slow / negative.
CEO pointed out possible declines in revenue with potential crisis. Could the following months be critical for further decline ?
In my oppinion, Technical analysis shows it could be. But as usual it depends on the point of view of the observer and interpretation of TA.
So take it with a grain of salt. The stock could fall another 30+ %. As long as the market gives as unclear signal we can come up with a strategy where the price could be interesting for us to BUY.
I will watch long term supoorts around "Pre-Covid" prices + wait for RSI / MACD 1W convergce to chatch it as close to bottom as possible. Next 3 months could be very important.
Do Your own homework before buying any stock ;)
Trade and invest safe...
Strong Reversal SPY/SPX IHFundamentals: Slowing growth from Google and Microsoft continued our confirmation of a slowing macro environment. Microsoft reporting slowing growth in cloud revenue. Google even said their strongest ad flow of "search" saw a decline in revenue. Ad spend being the canary in the coal mine indicates the market is ready to continue it's collapse. META continues to blow through cash to build the metaverse.
-3 month/10 year yields inverted
-Yields/Dollar continue their climb - taking a break the last couple of days.
-BOJ intervention
-Canadian central bank increasing just .5
-Chinese Xi reigns again and this time with complete dominance - Speaks of a great challenge ahead - Taiwan in the crosshairs
-Russians talking nuclear attacks
Technical Analysis: The low from Sept 6th, the downward sloping trendline from August 26th, the 50 day MA, combined with the upward trend line from the recent lows created a strong resistance after a 3.5 day run up. ES1! futures stopping a few ticks below 3900. 3 day pumps are the norm.
-Gap at 408.6, 200 MA and downward trend line from the ATH creating the next target to the upside.
Outlook: I definitely believe there is more downside ahead for the markets into 2023. Although today's price action and macro indicators are pointing down that does not guarantee we have seen the end of this rally. Upside gap to 408.6 is being eyed by the bulls. Perhaps by no coincidence the 200 MA is closing in on that price. Those combined with the downward trend line point to a mid November rally adjourning. Bulls looking to load back up around 375 SPY. Breaking through 375 shows the bears have gained control and we have entered into a longer correction formation or new wave down.
Alphabet - Earnings report sends shockwaves through the marketYesterday, Alphabet sent shockwaves through the stock market after the close when it published its earnings report for the third quarter. The revenue was up 6% from the year earlier, and earnings per share stood at 1.06 USD, missing analysts' estimates. This earnings report is yet another line to confirm our thesis about the market progressing into the second stage of the bear market, with companies warning about the slowdown and failing to deliver expectations.
We expect this trend to continue during the next earning season and slowly lead the market into the third phase of the bear market. The same view is supported by the fact that the FED is about to increase interest rates next week and further tighten economic conditions, making a primary trend reversal very unlikely.
Therefore, we believe the reality will soon creep back into the market, and those who were buying the dip in hopes of catching a bottom will fulfill our prophecy once they sell those shares back to the market. As a result, we expect Alphabet to continue lower with the rest of the stock market.
Illustration 1.01
Illustration 1.01 displays the daily chart of the Alphabet stock. The yellow arrow points to the price retracement toward the 50-day SMA, representing a strong correction; the same retracement can be observed on the daily chart of Apple, Microsoft, General Motors, etc.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bullish. DM+ and DM- are also bullish. Overall, the daily time frame is bullish; however, the data does not reflect the drop after earnings. Therefore, we expect the daily time frame to turn bearish today.
Illustration 1.02
Illustration 1.02 shows simple support and resistance levels for Alphabet stock on the daily graph.
Technical analysis - weekly time frame
RSI, MACD, and Stochastic are slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
GOOGLE- Correction Incomplete?Alphabet (Google) misses on earnings as YouTube shrinks; company will cut headcount growth by half in Q4
Alphabet shares dropped more than 7% in extended trading on Tuesday after the company reported weaker-than-expected earnings and revenue for the third quarter and said it would significantly decrease headcount growth.
Earnings per share (EPS): $1.06 vs. $1.25 expected, according to Refinitiv estimates.
Revenue: $69.09 billion vs. $70.58 billion expected, according to Refinitiv estimates.
YouTube advertising revenue: $7.07 billion vs $7.42 billion, according to StreetAccount estimates.
Google Cloud revenue: $6.9 billion vs $6.69 billion, according to StreetAccount estimates
Traffic acquisition costs (TAC): $11.83 vs $12.38, according to StreetAccount estimates
Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending. Other than one period early in the pandemic, it’s the weakest period for growth since 2013.
YouTube ad revenue slid about 2% to $7.07 billion from $7.21 billion a year ago. Analysts were expecting an increase of about 3%. Alphabet reported overall advertising revenue of $54.48 billion during the quarter, up slightly from the prior year.
Philipp Schindler, chief business officer for Google, said the company saw a pullback in spend on search ads from certain areas such as insurance, loans, mortgage and cryptocurrencies.
Chart:
99,82 was not checked which according to my analysis would had been a good entry to comfortaby go Long/Buy on such a Tech Giant.
84.58 also unchecked.. that would be the level i would be buying BIG
At this stage, my analysis is that the correction is NOT complete. The resistance at 110.98 will most likely reject the Bulls and that's alevel I would personally go short at.
Fundamentally this is one to hold on too, or Buy. I spend a lot of time on Youtube..which needs to get rid of all the scam ads and annoying ads. There are issues there that need to be fixed.
Concerns:
''Google also canceled the next generation of its Pixelbook laptop and cut funding to its Area 120 in-house incubator. And last month, Google said it would be shuttering its digital gaming service Stadia.''
It look to me as if the Giant called GOOGLE needs heads with more vision... Young fresh minds is the solution. Let's hope they can figure it out.
Extras:
''company will cut headcount growth by half in Q4''
They say investors like that approach and it might help the share recover today's losses . to me this is bad news, it shows they need to do better..employing more people means success, not failure.
Let's wee what happens..I will come back to this post in due time.
One Love,
The FXPROFESSOR
GOOG - Short PositionWhen looking at GOOG current underlying value and most recent price behaviour using a 2-hour range, investors can see inside bar formations. Underlying price movements of AAPL witnessed a loss of its initial gains in this instance, the inside bar formation suggest bareish continuation of momentum since most recent EMA dead cross.
Lateralized underlying price momentum was witnessed between 24/05/22 and 03/08/22. Fresh bullish crossovers occurred 4 times during this period, three dead crosses also occurred. This lateralized pattern saw underlying prices fall to as low as $100 and reach highs up to $120.
Bullish trends occurred after the fresh bullish EMA cross over witnessed on 03/08/22, underlying prices rising above 5%. When observing 50 and 100 day ranged EMA averages investors can see that on the 25/08/22 – 29/08/22 shorter 50-day EMA moving average crossed beneath the longer 100-day EMA moving average. This dead cross was followed by a strong down trend, underlying prices falling over 10%. Shorter 50-day EMA average dropped significantly bellow the longer 100-day EMA average.
Bullish momentum was rejected on 13/09/22. A hanging man, three bar formation can be witnessed indicating a weakness in preceding trend and an indecision with regards to the proposed top. Currently EMA moving average lines are not moving back towards one another, instead they are moving parallel with great difference between one another. Therefore, the down trend is more likely to continue.
Based on EMA moving averages, MACD and candlestick patterns and behaviour we are bareish in sentiment. We anticipate that the stock will fall further and have taken a short position as a result.
Google Alphabet Movement Prediction In this idea I show Google's movement as I see it playing out. I have been moving into different types of charts to challenge myself as I grow my skills. I have to say I think I will like charting stocks as they each are pretty unique and are in their own right a puzzle to solve. I see this movement as Google's struggle to figure out where they belong in an ever changing digital world as some of their products grow stagnant and are being outshined by such things as Amazon Web Services. If you agree throw me a like and follow me for more unique concepts and ideas that keep you in the gains.