GOOGLWill it bounce? Depends on the overall market which currently have a negative trend. Education purpose only, not a recommendation.
GOOG trade ideas
Magnificent Seven Starting A DipUntil the Fed is due with further rate cuts, as expected by the market in fall, the Magnificent Seven and the Tech sector in general are in a valley.
Reports on earnings from this eclectic group have been discouraging so far, and analysts see NVIDIA at the peak of investors' interest: large funds will not buy additional shares due to risk management, and small investors are hesitant to buy more despite the recent split of shares. Everyone who wants NVIDIA is already holding it. Any scenario in which NVIDIA will not strongly exceed expectations by 28 August, the market will head to an enormous correction in the technology sector. The quarterly earnings and expectations already show a flattening growth curve.
$GOOGL swing idea!Price seems a bit over extended with signs of a possible short term retrace.
On a lower time frame, market structure is bullish.
Entry at around $183.5
Stop loss at $181
First take profit at previous high
GOOGL Short IdeaGOOGL broke below it's uptrend from May recently and had a quick move down near trendline support. If GOOGL can bounce here, I'd be looking for shorts on a retest of that trend it just broke. There will usually be at least a small rejection on the first retest of an uptrend like that after a clean break.
$GOOGL: re-testing $190 first and then $150Google has also introduced **Axion**, a powerful custom chip designed for data centers. Here are the key details:
1. **Purpose**: Axion is Google's **first custom Arm-based CPU** specifically designed for data centers.
2. **Performance**: It delivers **industry-leading performance and energy efficiency**.
3. **Use Cases**: Axion can handle various tasks, including **Google searches** and **AI operations**.
4. **Comparison**:
- Axion outperforms the fastest general-purpose Arm-based instances available in the cloud today by **up to 30%**.
- It also provides **up to 50% better performance** and **up to 60% better energy efficiency** compared to current-generation x86-based instances¹.
5. **Deployment**: Google has already started deploying services like **BigTable, Spanner, BigQuery, Blobstore, Pub/Sub, Google Earth Engine**, and the **YouTube Ads platform** on current-generation Arm-based servers and plans to scale these services on Axion soon¹.
In summary, Axion represents a significant step forward in custom silicon for Google's data centers, enhancing performance and efficiency across various workloads¹. 🚀
Source: Conversation with Copilot, 7/30/2024
(1) Introducing Google’s new Arm-based CPU | Google Cloud Blog. cloud.google.com
(2) Google unveils a new custom chip to supercharge tasks like search and .... www.androidcentral.com
(3) Google Announces Its First Arm-Based Custom Chip Axion - Investopedia. www.investopedia.com
(4) Google Cloud Unveils Custom Arm AI Chip. Nvidia Stock Falls - MSN. www.msn.com
GOOGLNot a recommendation.
Negative - can go down to $150 from here.
Positive - Expecting to cross $200 before or by year end.
$GOOGL - strong pullback but long term uptrend intactStrong earnings surprise for previous few quarters, and strong uptrend intact as shown by 50 and 150SMA trend lines. Short term pullback is a great time to add onto current NASDAQ:GOOGL positions, 150SMA act as strong support at USD 160 also with forward EPS expected to be approx USD 8 it indicates a great value to add NASDAQ:GOOGL at USD 160 as it reflects 20X fair value multiple
GOOG is a BUY ++++Oversold on all indicators I follow. We held bottom of cloud support and fib .618, overall market is looking bullish for the next week to 10 days so this will bounce. $178 first target
GOOGL Short Term bounce, but Long Term crash??A lot of this drop on NASDAQ:GOOGL is due to AI news and possible bubble bust. I dont think investors are giving up on GOOGL and expect to see a short term bounce to around the 172-173 area this coming week. Market depending.
I think 155 looks a lot better to buyers rather than 167 but we shall see. Either way another big move is waiting for NASDAQ:GOOGL We just need to see if buyers will step in.
Weekly is still overbought. But Daily, 4HR and smaller Timeframes looks like it will bounce.
GOOGL: Adding Calls HereGOOGL is showing oversold on the daily and is approaching the 2.618 FIB retracement. It does not have to hit it, but I added calls to my portfolio and will buy more if it continues to sell down to 165. I expect a reversal soon to fill the gap (or at least get close) at 181. PT1 is 175
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
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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Range LeftWe've fallen below the 1 week old trading range and may face further drops now.
The status is overbought.
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.
Google Analysis Looks like a sell for GOOG. Today is earnings day. Stock market is due for a correction. Might start with Goog earnings??
$GOOGL Implied move for earningsThe implied move for Google earnings tomorrow is between 195 and 169.
GL, y'all...
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.
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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.
