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Alphabet Inc. Forecast and Stock Analysis
Technical GOOG stock analysis for Monday June 24, 2019.
Alphabet Inc. fell by -0.57% in the last day ( Monday, 24th Jun 2019 ) from $1 121.88 to $1 115.52 During day the stock fluctuated 0.99% from a day low at $1 111.01 to a day high of $1 122.00. The price has been going up and down for this period, and there has been a 3.25% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.48 million shares and in total 1.37 million shares bought and sold for approximately $1 526.00 million.
- 30 day high of the GOOG stock price was $1 151.59 and low was $1 025.00.
- 90 day high was $1 289.27 and low was $1 025.00.
- 52 week high for the Alphabet Inc. - $1 289.27 and low - $970.11.
Alphabet Inc. lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.79% during the next 3 months and, with 90% probability hold a price between $880.69 and $1 049.01 at the end of this period.
Some negative signals were issued as well, and these may have some influence on the near short-term development. Alphabet Inc. holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $1 117.16. On a fall, the stock will find some support from the short-term average at $1 104.63. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Friday June 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
The stock holds a RSI14 at 78 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1 053.05 and $1 042.22.
There is 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, Alphabet Inc. finds support just below today's level at $1 053.05. If this is broken, then the next support from accumulated volume will be at $1 042.22 and $1 036.23.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $10.99 (0.99%) between high and low. For the last week, the stock has had a daily average volatility of 1.33%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
1.33 %Average volatility
Very Low Low Medium High Very High
Alphabet Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.
Important: Please note that 86% of user opinions on StockTwits are positive to the stock. The sentiment is based upon 66 votes on StockTwits.
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