Google Stock Forecast
Google stock price ended at $157.95 on Monday, after gaining 1.43%.
(Updated on Apr 22, 2024)
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $162.10 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.74% during the next 3 months and, with a 90% probability hold a price between $149.29 and $174.65 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GOOG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -1.77%. 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). 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 $157.08 and $149.67. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Google stock
On the downside, the stock finds support just below today's level from accumulated volume at $148.48 and $141.80. 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 $148.48. If this is broken, then the next support from accumulated volume will be at $141.80 and $134.20.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.53 between high and low, or 2.26%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: $151.82 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (GOOG) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Alphabet Inc. to open at $157.60, and during the day (based on 14 day Average True Range), to move between $154.69 and $161.21, which gives a possible trading interval of +/-$3.26 (+/-2.06%) up or down from last closing price. If Alphabet Inc. takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $158.14 (0.12%) than the support at $148.48 (6.00%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.886 Hold/Accumulate Unchanged
Predicted Opening Price for Alphabet Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $157.60 ( 0.223%) | $157.95 |
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 | 161.12 | 2.01 % | |
| R2 | 159.78 | 1.16 % | ||
| R1 | 158.94 | 0.630 % | ||
| Current price: | 157.95 | |||
| Support | S1 | 156.25 | -1.08 % | |
| S2 | 155.42 | -1.60 % | ||
| S3 | 154.07 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 160.79 | 1.80 % | |
| R2 | 159.19 | 0.785 % | ||
| R1 | 158.14 | 0.120 % | ||
| Current price | 157.95 | |||
| Support | S1 | 148.48 | -6.00% | |
| S2 | 141.80 | -10.22% | ||
| S3 | 134.20 | -15.04% |
FAQ
Click here for our free guide on how to buy Google Stock.
