GOOG Archives - FaithMightFX

April 24, 2024April 24, 2024

Google Rebounds

The share price of Google over the years has been outstanding despite the bearish run in 2023. This year has been a year of recovery. The price at the beginning of 2024 was at $84.01. There was a dip in 2022 and that dip happened after the high of $159.50 in November 2021. All gains in 2021 was lost as result of the bearish run in 2022 and this bearish run found support at $84.01. The bullish takeover started at the beginning of 2023 and the run has continued to 2024.

The opening price of $GOOG in 2024 was $139.53. The bulls have been able to make price rally beyond the 2021 high at $159.50. The first breakout to the upside was in January 24. February recorded a few losses. In March, there was a record of gains as the second breakout to the upside was recorded this month. The breakout has made the price of $GOOG reach a new all-time high at $161.86 which hit on the 12th of April.

After the recent high was reached, the bears temporary took position as price dropped to $154.16. There is a rebound in price as the bulls have regained some of the losses of last week. The earning report of Google will be released on the 25th of April. This might not be favorable to the price of $GOOG as the price might fall to $155 from the current price of $159.92. On the monthly chart, RSI shows price has been overbought in 2021 but yet to be overbought in 2024 despite the new highs.

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November 7, 2023November 7, 2023

Google Currently Trading Above $130

As of November 7, 2023, Alphabet (Google) has a market cap of $1.637 Trillion. This makes Alphabet (Google) the world’s 4th most valuable company by market capitalization. In the space of one year, the share price of Google ($GOOG) has appreciated by 42.97%. In the last 24hours, the market cap has increased in value by 0.83%. The revenue growth of $GOOG in the last 20years has been exponential. As of 2004, the revenue of $GOOG was $3.194Billion. In 2014, the revenue had increased to $66Billion yearly. Currently in 2023, the revenue of $GOOG stands at $297.13Billion.

As regards share price, this year’s high for $GOOG is at $142.17 which was on the 12th of October. On the 24th of October, there was a gap down from $139 to $129. November opened with a bounce from the October support level of $121, and the gap down was partly filled as price is currently at $131.45. We might see price rally in the next few days to $139. The rally might be temporary as we might see a fall in price to $85 in 2024.

October 27, 2022October 27, 2022

New Entry Point for Potential Investors In Alphabet Inc. Stock

The downward price movement has not been favorable to Alphabet investors since the beginning of this year. Potential Alphabet investors must be looking out for best entry points, but the price keeps moving around the year’s support level at $95.25. The opening price of Alphabet at the beginning of this year was at $144.54, with the first month of the year closing bearish. There was a temporary rally in February that made price hit $152.07, making it the year’s high and also the all-time high.

The price movement since the all-time high was reached has been characterized with lower-highs and lower-lows. The year’s low is currently at $95.58. The market opened today, the 26th of October, and as a result of a gap down, the price is at $96.89, from $104.93 where it closed yesterday. The gap down might be closed in the coming weeks as price rallies to reach $100. If Price eventually reaches $100, this might be a good entry point for potential investors in Alphabet Inc. as price makes its way to $138.

May 3, 2019January 22, 2020

Google Recently Had A Huge Gap Down

Our last analysis on Google shows the share price was going to rise. . Price was able to go beyond the expected resistance level of 1123.23. The bullish movement from last year was able to reach 1288.30 on the 29th of April 2019. At the last trading day of April, a gap down occurred which confirmed the beginning of a downtrend. RSI at two different occasions between March and April had shown overbought positions.

Ichimoku is yet to show a reversal, but shows the $GOOG bulls are still in charge. The gap down which occurred made price of $GOOG on the Bollinger band to cross to the lower region of the chart which is presently in the Ichimoku cloud. The share price of $GOOG is currently at 1168.89. Now that price has crossed to the lower region of the Bollinger bands, this could make price to continue to fall more to 1106.41. $GOOG lost about 100points after the gap down. As we await price to continue the downward trend, it might still lose 150points more.

November 13, 2018February 24, 2020

Google Retesting Support

$GOOG has found support at 1001.23 on the 29th of October. The bears have been in charge of this stock since the first week of September. Price action this year shows support level at 1001 was not broken. Share price of $GOOG fell about 3.5% this week. Since a major downtrend began in October, share price of $GOOG has dropped 14.2%. Price has maintained the lower region of the Bollinger bands since September. It’s like all the gains of $GOOG in 2018 were lost between September and October.

RSI on the daily chart signals an oversold region. Taking a look at the trendlines And B, price closedabove the trendline B on the 7th of November. Presently, price is retesting at a major support indicating a reversal. Price might touch the resistance level at 1123.23 this month. Ichimoku shows a downtrend and no trace yet. If price retraces but holds the expected resistance level at line C, $GOOG may continue the downward trend.