Alphabet Back Under $1 Trillion Market Cap

NASDAQ:GOOGL   Alphabet Inc (Google) Class A
Coronavirus is hammering stocks today, as everyone knows. The disease most directly threatens chip makers, transports, energy and financials. Some corners of tech are less directly impacted… like Alphabet .

Today's drop represents GOOGL's first pullback to its 50-day simple moving average ( SMA ) since the company broke out to new highs in November and December. It also comes at a time when Sundar Pichai has taken the helm as CEO , with an eye on monetizing businesses like YouTube.

The current zone around $1,420 is also a support area where it bounced earlier in the month.

In conclusion, Warren Buffett isn't known as a great technical analyst. But his adage of being "greedy when others are fearful" might just apply in a new-economy blue chip like GOOGL .


Should I wait a bit more or go long today ?
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