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Alphabet

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Alphabet Inc. is about to announce its earnings on 24 October.</a> </li> 
 <li> <span>2</span> <a>In the Q2 2023, the GOOG stock has delivered outstanding numbers for the company.</a> </li> 
</ul> 
<p>Google was established in the year 1998 by Larry Page and Sergey Brin. The company currently has more than 190K employees. The company focuses on artificial intelligence, search engine technology, cloud computing, and many other technology sector services. The GOOG share price has consistently advanced this year giving huge returns. It has advanced by more than 40% this year and currently retracing to lower levels.</p> 
<p>The GOOG share has given a return of 32.09% last year and has advanced by more than 350% since its IPO. It has resulted in an advance of 7.4% in the market cap of the company year-on-year following Q2 2023.</p> 
<p>Investors are ready to pay higher prices for GOOG shares as the price-to-earnings ratio of the company is 27.76. The ROE of the company is 23.49% following an operating margin of 29.27%. It indicates strength in the share of Alphabet.</p> 
<h2 class="wp-block-heading" id="strong-alphabet-inc-stock-performance-analysis-strong"><strong>Alphabet Inc. Stock Performance Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/1TWRyqNIxfsKOAsrYqgyP7bYrXkhR81WrO7iMwOMtLp5ciIEQ-9eCbCIUzDlx53YOcaF4k1glqshk-jiZs2AcCGenm03XLWxJVHNrrD1Xp0L6K-dOu7gU8lMQT7sXvU63J6VFePrLzxPCv-i5gs5VhI" alt="Is Google’s Misleading Case Hitting The GOOG Share Price Badly?"> 
  <figcaption class="wp-element-caption">
    Source: <a href="https://in.tradingview.com/symbols/NASDAQ-GOOG/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The Alphabet company’s profit has declined as compared to last year, following a net income of 21% of the total revenue resulting in $280.88B. The company’s revenue has consistently advanced for many years, with an advance in the net income of the company. It represents that the company’s stock is reliable for long-term investment.</p> 
<h3 class="wp-block-heading" id="strong-technical-summary-of-goog-stock-strong"><strong>Technical Summary of GOOG Stock</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/rhrEwbma5EfX2ZofRZCppTBi207Akv2StXoS-ZaYXZWh02IJrY-anddLSPYTzhO1tIH65Wgb6FPEc75oWUfIj-ku_ooayhrKpxD8-QEBOZh6ZQGed4nORwYY2Da944DVRAdOEszCJ4Y5nWYyaG4ByZM" alt="Is Google’s Misleading Case Hitting The GOOG Share Price Badly?"> 
  <figcaption class="wp-element-caption">
    Source: Tradingview 
  </figcaption> 
 </figure> 
</div> 
<p>The technical indicators for the GOOG stock on the daily timeframe are neutral as the price was consistently advancing to higher levels and has recently declined a bit. Indicators like oscillators and EMAs are giving mixed signals. It makes the stock technicals neutral. The experts are bullish on the charts due to the strong fundamentals of the company.</p> 
<h2 class="wp-block-heading" id="strong-goog-share-technical-analysis-strong"><strong>GOOG Share Technical Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/qVY6x9w-C145qUxMBJbQbLA6VGzBnDRX6rGtWwL6DuzvINyzN_QABAVT4As5nvIV69hzZQSUGxhfA4zLso7rddcU-T7Id95uC1fmbkYrSavHmc5FqbH60TFzqrV2vw3CousFdMxIwFB2liMd5KBdDcQ" alt="Is Google’s Misleading Case Hitting The GOOG Share Price Badly?"> 
  <figcaption class="wp-element-caption">
    Source : GOOG: 1D: NASDAQ 
  </figcaption> 
 </figure> 
</div> 
<p>The share price of Google is consistently advancing to higher levels, following a rising wedge pattern. The price has recently broken down below the pattern. This decline in price can lead to a change in the trend of the stock to a downtrend.</p> 
<p>The GOOG share price has been following an uptrend leading to a golden cross on charts. The GOOG share price is currently taking support at the 50-day EMA. If it breaks below the same, it can lead to a change in trend.</p> 
<p>The RSI for <a href="https://www.thecoinrepublic.com/2023/09/02/googl-stock-forecast-is-alphabet-ready-to-smash-the-150-mark/" target="_blank" rel="noopener noreferrer nofollow">Alphabet </a>Inc.’s stock is trading in an uptrend as the RSI has hit the overbought zones. Currently, the value has declined below the 50 level, but it can rebound unless it hits below the oversold zones.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/02/googl-stock-forecast-is-alphabet-ready-to-smash-the-150-mark/" rel="noopener noreferrer nofollow">GOOG </a>stock has very good fundamentals and it is a large-cap company. The share price of the stock has also advanced to higher levels, leading to a rising wedge pattern. The RSI and EMA are mildly uncertain to bearish for the stock.</p> 
<p>Therefore, the share price might be in the retracement phase temporarily and can continue to higher levels after the retracement.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Support levels for the GOOG share are – $116.00 and $128.00</li> 
 <li>Resistance levels for the GOOG share are – $144.00 and $152.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.</p>

Is Google’s Misleading Case Hitting The GOOG Share Price Badly?

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