- Alphabet Inc.’s EMA is showing a positive sign.
- GOOGL’s stock quarterly profit margin percentage has given a huge surge.
- Alphabet Inc.’s have a share float of $5.9 Billion.
The stock price of Alphabet is currently moving in an uptrend direction followed by the formation of a higher high pattern in the upcoming days.
The GOOGL stock reached an all-time high of $151.66 nearly a one and a half year ago in January 2022. Immediately after this, the price started declining. The price declined by almost 45% by the end of January 2023. However, the stock found support at the $85 level, and the price rebounded from here. The price almost surged, a recovery of more than 55%.
At present, the stock price is following a pattern of higher highs, encountering resistance at the $138 level. The probability for the price to move above this level and make new highs is very high.
According to data from TradingView, the stock’s quarterly profit margin has been on the rise. In Q4 2023, the margin stood at 18%; in Q2 2023, it reached nearly 24%, indicating an upward trend.
The analyst rating suggests a buying signal for the GOOGL stock. The target price for the stock in the next year is $150.18. This is a total increase of more than 14% from the current price.
The overall structure of the GOOGL stock is positive, the price is moving by forming a higher high candlestick. Thus the price is likely to rise in the upcoming days.
Alphabet Inc. (GOOGL) Stock Price Analysis
GOOGL by writer50_tcr on TradingView.com
The current positioning of Alphabet Inc.’s stock price is below the 50-day and 100-day EMA levels, which may indicate the potential for a bullish pattern to emerge, hinting at future price increases.
In terms of the MACD indicator for GOOGL stock, it is currently trading above the signal line, and the presence of a green histogram on the chart suggests the possibility of further price increases. These MACD signals paint a positive picture for the GOOGL chart.
Additionally, both the 14-day Simple Moving Average (SMA) line and the Relative Strength Index (RSI) line for GOOGL stock are closely situated near the 70 level. This positive RSI line indicates that the stock price is positioned for future growth.
Conclusion
According to the analysis, Alphabet Inc.’s stock price is presently undergoing an upward momentum, with indications of potential future price hikes. GOOGL stock is establishing a pattern of higher highs, and the indicators are conveying a bullish perspective. Consequently, it is expected that the GOOGL stock price will sustain its upward trend in the coming days.
Technical Levels
- Support Level– $118
- Resistance Level– $138.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
