Alphabet has climbed for the past year, but now its uptrend may be at risk.
The first pattern on today’s chart is the late-January failed breakout above the November 2021 high of $150.97.
GOOGL then fell and held the bottom of a rising channel and its 50-day simple moving average. It bounced and returned to close back under those lines last week. Is the uptrend breaking?
Also consider how the Internet giant only reached the middle of the channel on February 9 before rolling over. The resulting lower high may also suggest the uptrend is faltering.
Next, MACD is falling and the 8-day exponential moving average (EMA) just crossed below the 21-day EMA. That may reflect weakness in the shorter term.
Finally, you have bearish gaps after the last two quarterly reports. This contrasts sharply with
MSFT
Microsoft and
META
Meta Platforms, which both hit new highs. (MSFT and META are also outperforming in the key areas like Cloud and advertising.) Does GOOGL’s rangebound price action resemble
AAPL
Apple’s, with weakening fundamentals as rivals break out?
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The first pattern on today’s chart is the late-January failed breakout above the November 2021 high of $150.97.
GOOGL then fell and held the bottom of a rising channel and its 50-day simple moving average. It bounced and returned to close back under those lines last week. Is the uptrend breaking?
Also consider how the Internet giant only reached the middle of the channel on February 9 before rolling over. The resulting lower high may also suggest the uptrend is faltering.
Next, MACD is falling and the 8-day exponential moving average (EMA) just crossed below the 21-day EMA. That may reflect weakness in the shorter term.
Finally, you have bearish gaps after the last two quarterly reports. This contrasts sharply with
MSFT
Microsoft and
META
Meta Platforms, which both hit new highs. (MSFT and META are also outperforming in the key areas like Cloud and advertising.) Does GOOGL’s rangebound price action resemble
AAPL
Apple’s, with weakening fundamentals as rivals break out? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Important Information
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com...isclosureTSCompanies for further important information explaining what this means.
