stephen.punwasi
Short

GOOG Management Shakeup Will Send It Lower

NASDAQ:GOOG   ALPHABET INC
Undeniable that Google             is one of the greatest companies out there, but the expanding multiple is being questioned, especially after the major shakeup in management. While I think any entry point would be great long term on this stock , the next few weeks will see this lower.

PRICE - $508 is the previous short term support, and I think with little to no new news planned from the company over the next couple of months, this moves towards that level. If it bounces off of it, I would watch the $560 level to see if the Oct             . 31 resistance still holds.

ACCUMULATION - The past few weeks have seen this a lot of distribution. Most likely a number of active money managers are chasing returns at companies with higher risk and higher potential returns.

MACD - The MACD clearly looks exhausted and the cross down look like it's going to grind lower rather then have a sharp drop. This further supports the pricing action.

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atlus1432
2 years ago
whole heartedly agree - time will tell !
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