GOOGLE Sustainable growth for the next 3 months?Just a fractal play but tell me don't those two sequences have a lot in common? First an aggressive Bull Phase 1 and then a more sustainable Bull Phase 2, supported by the 1D MA50 (blue trend-line). Can GOOG repeat this pattern?
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Still bullish on Alphabet. NASDAQ: GOOGLI was looking through the hightech QQQ stock index and thought I might do a review on some of the major players in that index. Still bullish on Alphabet, but it's looking like it's closer to the end here. RSI shows slowing momentum, EWO is in agreement with my fractal mapping. Expecting a fifth wave to complete now. Fibonacci goals are inplace. If my count is right then we are correcting, and this too will drop unless FedReserve doesn't step in and start printing even more money. I will be watching this space closely. NFA .
BITCOIN - Current situation & short term key pointsNovember is historically the best performing month for Bitcoin. We’re 8 days in and already over 8% in the green. After closing above $13,000 for the first time since 2017, we’ve been in a very strong uptrend. Bitcoin market cap dominance over altcoins has risen from 59% to 64%+ since September, indicating bullish sentiment as people are converting their altcoins into Bitcoin.
In this situation there truly is not much stopping us from testing the 2017 all time high of 20k.
Not only that: the market in general has been positively going up recently. The dollar value has also been in a downtrend (when the Dollar goes down, bitcoin price usually goes up). I think this is a point that few people think about. Especially when considering 70% of Bitcoin trading is done through USD. 2nd place is the Japanese Yen at 20% (although it was over 50% a few years ago).
However even with this strong upside action, Google trends is showing that mainstream attention is nowhere near as high as it was in 2017. It is probably safe to say that we haven’t reached hysteric FOMO(fear of missing out) yet. This could mean that we still have a lot of room for growth.
---Short term price action---
After Thursday’s strong 10% leap up, we saw a Doji close and a slight bearish divergence in the RSI, signaling a possible break and downside action, which did happen. I myself took some profits around 15.6k, and am expecting a few more possible days of downward correction. For now I am looking at two zones for re-enter - 14k psychological even point, as well as ~13.4k which is the .618 fibonacci level from the 2017 high of 20k and a previous resistance.
The dollar currency index is currently at a crucial support - I am waiting to see if it bounces back up or continues down. It will be interesting to see how the market and currencies continue to react to the election and everything going on.
Google , where to buy ?Hello friends ,
I have analyzed how I see the future of google, in the current situation of the virus outbreak.
In the event that this situation continues, all technology companies will have the same result.
At a minimum, it will have a fall of the same length as the previous one, although it could be worse.
I indicate my 3 points, where I would buy the long-term action.
I await your opinion on this current situation.
GOOGLE BEARISH DIVERGENCE: SHORT TERM DECLINE?Since Google’s last earnings hike a bearish divergence signal has emerged on the 4H chart.
This divergence was accompanied with a massive sell-off after the earnings hike, resulting in a 4% decline. Large sell-offs like this could indicate a trend reversal.
The 30 October high has on its turn shaped a wedge for us which we can act on in the coming months. The lower trendline has been holding strong for three times already, indicating its function as a strong support for the future. Expect a reversal of the down trend when the price arrives in the green marked area.
GOOGLE - Alphabet HoldNASDAQ:GOOGL
The Idea is still to Hold before going long - The resistance level has not been properly broken.
Alphabet (GOOGL) – Alphabet earned $16.40 per share for its latest quarter, compared to the $11.29 a share consensus estimate. Revenue exceeded analysts’ forecasts as well. The Google parent saw a return to growth in digital advertising, while YouTube exceeded the $5 billion mark in ad revenue for the first time.
Google - Can we expect a similar as of last quarter? On a daily time frame : GOOGL has moved slightly up from its support level which is positive sign, idicating that the stock is in uptrend. It may face little resistance at 1,625, if broken next level is 1,700. On Technical grounds RSI has moved upward and still there is room for RSI to go further up. PSAR - leading indicator has given a buy signal. As per Fib retracement support level is 1,447 and resistance lies at 1,625 (R1) and 1,720 (R2). Risk to reward ratio seems to be positive. A positive earning of 11.28 is expected which is slightly higher than its last quarter's expected earning of 10.13. This may act as stimilus to derive the share price upward before the earnings release date. After the last quarter's earnings were released there was a short rally which moved the price from 1,470 to 1,700 (approx). Can we witness the similar trend this time as well ?
EOS pumps 20% in a hourOn news of partnership with google cloud. It is encouraging that a legacy coin like EOS whose PA has been in an exponential decay since 3 years can lead the alts.
Technically price bottomed with a diamond reversal pattern, also present on many alt coin. I believe that this pump is sustainable and there is high probability of reaching 3.1.
3.8 is a high resistance zone, and I believe it will be tested.
A break above the exponential decay curve at 4.51 will send EOS to the moon.
The End of Tech Stocks? – FAAG at riskThe house of representatives has published a 450-page long report that big tech companies (specifically FAAG), are disrupting innovation.
In this post, I will be summarizing the most important points to take away from the report, and factors to consider when investing in Facebook (FB), Apple (AAPL), Amazon (AMZN), and Google (GOOG).
Background Information
America’s antitrust laws date back to the 1890s. Standard Oil, an American company founded by John D. Rockefeller, secured 88% of America’s oil market share within 20 years, through aggressive acquisitions of fuel and railway companies. They’ve been criticized for using their monopolistic status to impose higher costs of transportation for their counterparts.
Rockefeller took over railway companies, which were essential in transporting goods throughout the country. Without transportation, no business could be done. What these mega tech companies are doing today is very similar to what Rockefeller did back then. Applications cannot reach the general public without being registered on Android and Apple’s app store. People looking to sell goods online must go through Amazon at some point.
As a result, in 1911, the US Supreme Court ruled that Standard Oil Trust must be dissolved under the Sherman Antitrust Act and split into 34 companies.
What has been suggested in this report is the probability of having to split FAAG, just like they did with Standard Oil in the 1910s, as both cases demonstrate similarities in the essence of their business models and strategies.
House Judiciary Antitrust Report
- It took 16 months to investigate and finalize the 450 page long report
- Targeted companies in this report are: Facebook, Google, Amazon, and Apple
- They have analyzed 1.3m documents and interviewed 250 players, dissecting these businesses in every detail possible
Amazon (AMZN)
The report claims that Amazon wields monopolistic power over third-party sellers. E-commerce sites such as Amazon offer two types of products: products that they source themselves and sell online, and products that are registered on their online marketplace by a third party seller. What’s suggested in the report is that the third party sellers using Amazon’s sales platform are at a disadvantaged position, as Amazon exposes more of their own products (which have much lucrative margins), rather than products listed on their marketplace.
Apple (AAPL)
In the case of Apple, the report states that there is an unfair monopoly over software distribution. Apple not only takes a huge amount of fees from the apps that are listed on their app store, but also from in-app purchases. They can also refuse to distribute the apps that they dislike, because all the apps that get listed on the app store go through a process of authorization.
For instance, if Apple were to launch a new music app, and decide to get rid of all other music streaming related apps on their app store, consumers would have no choice but to use Apple’s new app.
Facebook (FB)
The report suggests that Facebook possesses dominance in social networking. In a chart that demonstrates the number of monthly active persons (MAP) of social media companies, the order goes as follows: Youtube, Whatsapp, Facebook, Facebook Messenger, and Instagram.
Notice that except for Youtube, which is owned by Google, the top 2-5 applications with the most users all belong to Facebook. What’s even scarier is that Facebook is extremely good at either copying new and prominent services, or simply acquiring them.
Facebook can make a copy app of an existing application that possesses innovative services. Facebook can then use their platform to support traffic into their copy app (the cross promotion between Facebook and Instagram is one of the major reasons that the company grew exponentially).
When Facebook offered to acquire Snapchat (SNAP), they also mentioned that they were not only capable, but willing to make an app that offers the exact same service, which would ultimately do better, as Facebook possesses a bigger and smarter team, and more capital to invest in advertising.
Google (GOOG)
Google possesses monopoly over online search and search advertising. Thus, they can lead users into services that Google is supporting, or expose more results of companies that have paid Google for advertising (outside sponsored links). They can cherry-pick which results to show people, and essentially lead people into search results that Google wants them to see.
The report also demonstrates a list of all the companies that FAAG acquired, which reflects these companies’ strategy of ‘join us or die’.
Solutions
The report states that splitting these companies is a probable case. There could be different ways in splitting a company. For instance, in the case of Amazon, it could be split into two different companies, each focusing on e-commerce, and cloud services.
Another solution is to strengthen antitrust laws to prohibit big mergers and acquisition contracts.
The last solution is related to the significant amounts of data that these companies collect. The data they collect are used to expand into their next business, and the government’s solution to stop FAAG’s dominance is to limit their data collection.
Essentially, the government’s goal is to restore competition in the digital economy, as there aren’t any more companies that can challenge FAAG.
Conclusion
There is a lack of consensus between the democrats and republicans, making it difficult to settle on a clear solution. This report dominantly reflects a democratic stance on the issue. The irony is; the more earnings these tech stocks generate, and the more market share they take, the worse it could be for the stock’s price. Wall Street is betting on Biden’s victory, and if that becomes the case, these tech stocks will take a huge hit for the short term. From another perspective, however, this means that it’ll also be an opportunity for the smaller tech stocks, which have been under FAAG’s shadow, to shine.
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SELL ON GOOGLE NOW CLOSED! GOOGLE SELL NOW CLOSED! BUY NOW OPEN!
Risking just 1% on this trade we managed to bank 4.3%!!
booom
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Lets talk about the TECH. Will we go up? or will we kaput?This is a chart that shows some Titans that everyone has been talking about. Google Amazon Apple Tesla Nvidia and Square. Thought it would be interesting to look at them all together and hear some opinions.
My guess is that we will drop a bit and trade sideways. These tech companies will make a lot of money over the next 3 years. I don't think its time to overreact.
What do you think?