Alphabet
US Stock In Play: $GOOGL (Alphabet Inc)$GOOGL successfully attained its projected $2,350 target that was previously highlighted early this month, closing at $2,415 post market hours. This equates to an accumulated return of +14.44% in 19 trading days, since the breakout of its consolidated triangle chart pattern.
With existing implied volatility of $GOOGL remains below the $70/day ATR prior to the triangle formation, it is plausible for further momentous price volatility in the stock as we enter into the month of May.
$GOOGL provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments.
Looking for a longterm investmentThe course of the technology giants has risen enormously. Do not worry there are still opportunities. The profit of the company has grown along.
Alphabet, the company behind Google, seems to be on the expensive side with a price to earnings ratio of 35.15. However, this is bad at all when we look at all the investments made.
Alphabet appears to be quite far with self-driving cars and also invests heavily in cloud services. This is still at the expense of profit, but does offer enormous potential. The same goes for Maps and YouTube. The well-known video site is only now really starting to show its potential and despite the enormous potential, Google Maps is still hardly being earned.
Core businesses generated an increase of 18% in profit. However, costs of new investments also increased.
With a current market value of $ 1.422 billion, the underlying price earnings ratio is not expensive for a debt-free company, with an enormously strong market position and a lot of growth potential.
And remember, when in doubt, zoom out!
Looking at the chart, the stock is in a upwards position and taken into account the new developments, this will not change, especially not on long term.
Google Pre-EarningsQuite a clean and clear bullish chart heading into earnings. If earnings are a beat and market sentiment improves in the near-term, Google can get to 2000 easily within the next 2 months before taking a long-haul flight to 2200.
Google is currently trading at nearly 35 times PE ratio yet there will be buyers in queue near the 1760 mark if we get there post an earnings beat.
Elliott Wave View: Alphabet (GOOGL) Impulsive Rally IncompleteShort Term Elliott Wave view in Alphabet (ticker: GOOGL) suggests the rally from December 21,2020 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from December 21 low, wave 1 ended at 1788.57 and pullback in wave 2 ended at 1696.10. Wave 3 higher remains in progress as another 5 waves of lesser degree. Up from wave 2 low at 1696.10, wave ((i)) ended at 1801 and dips in wave ((ii)) ended at 1711.65. Stock then resumed higher in wave ((iiii)) towards 1932.08 and wave ((iv)) pullback is proposed complete at 1859.16.
The stock still needs to break above wave ((iii)) at 1932.08 to avoid a double correction in wave ((iv)). Near term, while pullback stays above wave ((iv)) low at 1859.16, and more importantly above 1711.65, expect the stock to resume higher. If the stock breaks below 1859.16, then it’s doing a double three (w)-(y)-(y) and should find support at the next extreme area in 7 swing. As far as wave ((ii)) pivot low on January 16 at 1711.65 remains intact, expect dips to find support in 3, 7, or 11 swing for more upside.
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 .