Alphabet Back Under $1 Trillion Market Cap
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.
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.
