Bought August09 177.5 Calls GOOGnice test of the anchored Vwap of yearly low. Will manage the calls at if/when we get to strike price
GOOG trade ideas
GOOGLE Correction completed. Buying again for a $210 Target.Last time we made a call on Alphabet Inc. (GOOG) on July 11 (see chart below), we caught the most optimal sell entry, right at the top of the 21-month Channel Up:
The price not only broke below the 1D MA50 (blue trend-line) for the first time since March 15, but today almost touched the 1D MA100 (green trend-line), which is holding since March 12.
This correction is consistent with the mid Bullish Leg pull-back that bottomed on July 11 2023 and then moved on to complete a +37.69% rise from the previous Higher Low. As a result, we think this is the best level to buy again and target $210.00 (+37.69% rise from the April 25 Higher Low.
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Alphabet (GOOGL) - Edition #1Macro Outlook: 🚀 Bullish/ Neutral
- Two monthly bullish trend are active. The first one expires on Sep and the second one expires June, 2025.
- First and second target is at around $205 and $270.
- Ideal long entries should be at around $160 - $140.
- Trade invalidation upon a break below $125.
GOOGL Shares Decline After ReportGOOGL Shares Decline After Report
Yesterday, Alphabet released its Q2 report:
→ Earnings per share: actual = $1.89, forecast = $1.847;
→ Gross revenue: actual = $84.742 billion, forecast = $84.208 billion.
The actual figures exceeded analysts' expectations. However, today in pre-market trading, GOOGL's price fluctuates around $178.60 per share, down from $183.60 at yesterday's close. Investors might be disappointed by YouTube's ad sales growth falling short of expectations ($8.7 billion versus the projected $8.9 billion).
It appears that GOOGL shares will join other tech companies whose stocks are losing ground in the stock market.
On 18th July, analysing NVDA's chart, we noted that the bears had the initiative. On 19th July, we pointed out bearish signs on META's stock charts. And on 22nd July, we highlighted bearish signs on MSFT's price chart.
Technical analysis of GOOGL's chart after the report shows:
→ In 2024, the stock has been rising within an upward channel that started in 2023. The historic high set earlier this month marked the upper boundary of this channel, which acted as resistance and turned the price downwards.
→ The bullish impulse, shown by black lines, is losing strength as the price moved closer to the median line of the blue channel after the report.
→ The July structure of local extremes A-B-C-D-E indicates bearish sentiment, as each increase is approximately 50% of the preceding decline.
Bulls might hope for support from the blue median line to try and keep the price in the upper part of the blue channel.
39 Wall Street analysts surveyed by TipRanks provide positive forecasts:
→ 33 analysts recommend buying GOOGL shares, and none recommend selling;
→ The price forecast for GOOGL shares is $203.97 in 12 months (+12.20% from yesterday's close).
However, it's possible that GOOGL's price forecasts may worsen if the blue median line is broken by the bears.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
$23 Billion reason for a correction comingSimple.... you don't walk away from a $23 Billion dollar deal, and you don't walk away from google. Something happened. don't matter if I don't know yet... you don't do those 2 things and for some reason WIZ did... In the famous words of Shark Tank "And for that reason I'm out."
Price Valuation $140-$160
sentiment: Hold
Alphabet Looking Bullish Ahead of EarningsIn Alphabet, we see an open volume-imbalance gap at the top of the target range. The market tends to close these gaps sooner or later. In our experience, they are more reliable than “normal” gaps.
In view of the technical chart situation and the stable fundamentals, we are bullish on Alphabet ahead of the earnings.
Please note: The stop loss shown is merely an idea. Experience shows that market movements at earnings are very volatile. It may therefore make sense to wait until after the figures are published before taking a position.
ALPHABET ( GOOGL ) Uptrend Line Rejection at $176.94. 23.07.2024Uptrend line Rejection (4HR chart): Alphabet Inc (NASDAQ : GOOGL) Class A at $176.94.
If Rejection Holds:
Potential rise to $189.75.
If $189.75 breaks, target $206.03.
If Rejection Fails:
Potential drop to $166.88.
If $166.88 breaks, target $158.97.
Apply risk management
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Disclaimer
GOOG: Risk for HFT Gap on EarningsThe mighty NASDAQ:GOOG has hit the Market Saturation Phase and its advertising AI is one of the primary problems. Alphabet is losing small business advertisers in droves as prices skyrocket to advertise on Google Ads while results are dismal for the advertisers.
This run down is due to speculation that is not based on financial data. It may find support at this level, but it is vulnerable to an HFT gap down. It is never a good sign to see selling a few days ahead of an earnings report. A gap up would be based on Year over Year, not quarterly improvement.
Ichimoku Watch: Google Poised to Test Kumo CloudUpcoming Earnings
Alphabet Inc. (ticker: GOOG) is scheduled to report earnings after the market closes on 23 July. The consensus Earnings Per Share (EPS) estimate for the fiscal quarter ending June 2024 is $1.85. The reported EPS for the same quarter a year prior was $1.44.
Price Action Nearing Ichimoku Cloud
The stock is poised to register its first losing month (down -2.2% month to date) following four consecutive winning months. Price action has dipped beneath the Conversion Line (blue at $185.76) and the Base Line (red at $184.47); of note, the former has yet to cross beneath the latter (which can be viewed as a bearish signal).
Price movement also remains below the Lagging Span (dark green at $179.39), a bullish signal, and the stock is nearing the Ichimoku Cloud, which has been in play since the Leading Span A (light green at $185.11) crossed above the Leading Span B (light orange at $179.54) at the beginning of May. The Ichimoku Cloud can offer traders a dynamic support area in uptrends.
Another observation worth highlighting is the support level located within the Ichimoku Cloud at $173.05.
Price Direction?
In light of the visible uptrend, a test of the Ichimoku Cloud could be a factor that prompts buying. Buyers will also likely want to have support tested at $173.05 and also the Conversion Line cross back above the Base Line (by the time the price reaches the Ichimoku Cloud, the Conversion Line would have crossed below the Base Line); traders use an upward crossover as additional strength confirming the Ichimoku Cloud.
7/21/24 - $googl - Considering long into EPS7/21/24 :: VROCKSTAR :: NASDAQ:GOOGL
Considering long into EPS
- 30x PE but cagr'ing >20% (closer to 25%) in the coming 2Y, reasonable but not cheap
- don't love what the company stands for, but they're so entrenched. 6x EV/sales also reasonable
- presumably have an ai compute advantage from a. their scale users b. and their scale users data (the UGC that's not publicly searchable) and c. cost of capital/ borrow to invest at a higher level vs most remains convincing.
- the nasdaq sell off has yanked semis which has had a passive knock on everything else. meta and googl are not china-non-exposed, but certainly less so than many of the other co's that are in the cross hairs (sorry too soon lol).
- anyway. i'm considering a punt esp if we have a little dumparoo/ lighter tape to start the week.
lmk what you think. a beat could send this back to the $190 level and i think downside perhaps equally $8-10 but it gets bought and it's a stock where you could theoretically buy that dip and double trading size and pare losses with a retrace. if rallies, it could also continue on a hot tape.
have a good week everyone.
V
GOOGL Alphabet Options Ahead of EarningsIf you haven`t bought GOOGL at the start of the reversal:
Now analyzing the options chain and the chart patterns of GOOGL Alphabet prior to the earnings report this week,
I would consider purchasing the 200usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $7.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
GOOG - Alphabet Inc (Google) Class C - 4h CAPITAL.COMAnalysis and Forecast:
Trend Analysis:
The chart shows an upward trend, but recently there has been a reversal below the resistance around $186.62.
The price has fallen below the 10-period EMA (yellow), indicating a possible short-term trend change.
Entry and Exit Levels:
Short Entry (Sell): $174.12
Target: $136.09
Stop-Loss: $186.62
Supports and Resistances:
Immediate resistance at $186.62.
Supports at $170.45, $151.64, $141.42, and $132.12.
Indicators:
Oscillator, RSI, and Stochastic indicate reversal signals and a possible continuation of the decline.
Disclaimer:
This analysis does not constitute financial advice. Do your own research before investing.
GOOGL FakeoutGOOGL had an ascending channel that was broken to the upside recently, but it quickly failed and broke back below the trendline. I see fakeouts like this as very bearish, but I'll need to see some more confirmation first considering how bullish this stock has been.
I expect it to come back to the bottom end of the ascending channel at a minimum. If it breaks below that, we have a longer term trendline below that may provide a bounce as well. Things would get really bad if it broke below that, potentially all the way back to $150 and then we can see what happens from there.
If the uptrend and dip buying continues, I'd waiting to see what happens on a test of ATH.
GOOGLE Top of the Channel makes pull-back likely. Buy the dip.Alphabet Inc. (GOOG) has been trading within a Channel Up since the November 03 2022 market bottom and on our last analysis (April 16, see chart below), it gave us an excellent buy entry, hitting eventually our 175.00 Target:
Right now the price is more than half-way on the new Bullish Leg but has come very close to the Channel's top (Higher Highs trend-line). Based on the June 07 2023 Top and the previous major Bullish Leg, we might get a pull-back towards the 1D MA50 (blue trend-line), before going for the final Higher High.
As as result, we are now willing to buy only after a 1D MA50 contact and Target $210.00, which will represent a +37.60% rise from the recent Higher Low, similar to the Bullish Leg of 2023.
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Alphabet's Bullish Breakout: A Signal for InvestorsIn a recent surge, Alphabet (NASDAQ) displayed a large green candle breaking past previous resistance, indicating a strong upward momentum. This candle pattern, observed amidst higher trading volumes, suggests a robust buyer interest that could drive further gains in Google stocks. This trend underscores a potentially lucrative phase for investors watching the tech giant.
