Summary of the classic technical indicators on its daily chart: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Alphabet is trading above both its 20 and 50 period moving average (respectively at 123.76 and 123.63).
According Zacks Investment ...
According Zacks Investment ...
- Alphabet's strong cloud division is aiding substantial revenue growth. Moreover, expanding data centers will continue to bolster its presence in the cloud space. For 2023, we expect Google Cloud revenue to grow 11.9% from 2022.
- Major updates in its search segment are enhancing the search results. Also, strong focus on innovation of AI techniques and the home automation space should aid business growth in the long term.
- Its deepening focus on wearables category remains a tailwind. Also, Alphabet’s expanding presence in the autonomous driving space is contributing well. Its growing efforts to gain foothold in the healthcare industry are other positives.
- Sluggishness in the company’s advertisement business remains a major headwind. Also, its growing litigation issues and increasing expenses are concerns.
Comment:
as soon as GOOGL drops below $115, I will accumulate the 115c expired on 08/18 to trade its earning
