Google Stock Forecast
Red day on Friday for Google
(Updated on Apr 19, 2024)
The stock lies in the middle of a wide and weak 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 7.07% during the next 3 months and, with a 90% probability hold a price between $147.66 and $173.27 at the end of this 3-month period.
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GOOG Signals & Forecast
The Google stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $157.48. On a fall, the stock will find some support from the long-term average at approximately $149.10. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Thursday, April 11, 2024, and so far it has fallen -3.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Google stock
Google finds support from accumulated volume at $148.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.08 (2.65%) between high and low. For the last week, the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: $149.61 (-3.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (GOOG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Alphabet Inc. to open at $155.87, and during the day (based on 14 day Average True Range), to move between $152.49 and $158.95, which gives a possible trading interval of +/-$3.23 (+/-2.08%) up or down from last closing price. If Alphabet Inc. takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $156.33 (0.39%) than the support at $148.48 (4.65%), 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.
Earnings coming up
Google will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.49. We will update the financials statements for Google, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.28% in the first trading day after earnings release.
Is Alphabet Inc. stock A Buy?
Google holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.657 Hold/Accumulate Unchanged
Predicted Opening Price for Alphabet Inc. of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$155.87 ( 0.0985%) | $155.72 |
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 | 159.95 | 2.72 % | |
R2 | 158.39 | 1.72 % | ||
R1 | 157.43 | 1.10 % | ||
Current price: | 155.72 | |||
Support | S1 | 154.31 | -0.90 % | |
S2 | 153.35 | -1.52 % | ||
S3 | 151.79 | -2.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 158.14 | 1.55 % | |
R2 | 156.50 | 0.501 % | ||
R1 | 156.33 | 0.392 % | ||
Current price | 155.72 | |||
Support | S1 | 148.48 | -4.65% | |
S2 | 141.80 | -8.94% | ||
S3 | 134.20 | -13.82% |
FAQ
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