Google Stock Forecast
Google stock price up 0.315% on Friday
(Updated on May 03, 2024)
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.34% during the next 3 months and, with a 90% probability hold a price between $175.69 and $206.26 at the end of this 3-month period.
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GOOG Signals & Forecast
The Google stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $166.74 and $156.88. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -2.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Google stock
On the downside, the stock finds support just below today's level from accumulated volume at $157.95 and $148.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Google finds support just below today's level at $157.95. If this is broken, then the next support from accumulated volume will be at $148.48 and $134.20.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.87 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: $161.37 (-4.51%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GOOG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Alphabet Inc. to open at $167.94, and during the day (based on 14 day Average True Range), to move between $164.37 and $173.61, which gives a possible trading interval of +/-$4.62 (+/-2.73%) up or down from last closing price. If Alphabet Inc. takes out the full calculated possible swing range there will be an estimated 5.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $173.69 (2.78%) than the support at $157.95 (6.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Alphabet Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Google stock to perform well in the short-term.
Current score: 2.620 Buy Candidate Unchanged
Predicted Opening Price for Alphabet Inc. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$167.94 ( 0.621%) | $168.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOOG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 172.81 | 2.26 % | |
R2 | 170.95 | 1.16 % | ||
R1 | 169.80 | 0.480 % | ||
Current price: | 168.99 | |||
Support | S1 | 166.08 | -1.72 % | |
S2 | 164.93 | -2.40 % | ||
S3 | 163.07 | -3.50 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 173.69 | 2.78 % | ||
Current price | 168.99 | |||
Support | S1 | 157.95 | -6.53% | |
S2 | 148.48 | -12.14% | ||
S3 | 134.20 | -20.59% |
GOOG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Jun 10, 2024 | Jun 17, 2024 | $0.200 | 0.118% |
FAQ
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