Google stock Alphabet is worth searching for
23rd January 2019 09:34
Despite dipping below an important uptrend before Christmas, Google parent Alphabet has upside potential.
Alphabet Inc (aka Google)
As Google (NASDAQ:GOOGL) enter the closing phase of the cycle to 4th Feb, when they issue an earnings report, it's worth a glance at the behemoth's share price. To be fair, it's in the early stages of showing some price recovery following their decline since July 2018.
The immediate situation for Google's share price allows $1,118 as a trigger to suggest moves coming to $1,171. Our secondary, if bettered, calculates at $1,254.
Unfortunately, the price celebrated the end of 2018 by stuffing itself below a very obvious uptrend (circled) since 2015. It begs the question; "was this early warning for trouble?"
If this is indeed the case, some extreme caution is possible thanks to weakness now below $1,016 risking relaxation quite sharply to $938.
Of greater concern for the longer term is our secondary. Should $938 break for any reason, a cycle to a bottom at $784 looks very possible.
For now, we shall not be surprised to witness continued recovery to $1,171. We are not confident about the $1,254 potentials.
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
Editor's Picks