Alphabet (GOOGL, $106.44) saw a $54.9B market cap increase this week
Alphabet (GOOGL, $106.44) saw the biggest increase in market cap last week, jumping +1.99% and increasing its market cap by $54.9B. A.I.dvisor analyzed 127 stocks in the Internet Software/Services Industry for the week ending April 10, 2023, and found that 47 of them (36.84%) were in an Uptrend while 80 of them (63.16%) were in a Downtrend.
One of the key indicators that suggests Alphabet (GOOGL) may be entering a new upward trend is its Momentum Indicator. The Momentum Indicator is a technical analysis tool that measures the rate at which a stock's price is changing. When the Momentum Indicator moves above the 0 level, it indicates that the stock could be shifting into a new upward move.
In the case of GOOGL, its Momentum Indicator moved above the 0 level on April 05, 2023, signaling a potential shift in the stock's trend. Traders and investors may interpret this as a positive sign and consider buying the stock or buying call options to capitalize on the potential upward momentum.
To further validate this signal, Tickeron's A.I.dvisor looked at 92 similar instances where GOOGL's Momentum Indicator turned positive. In 63 of the 92 cases, the stock moved higher in the following days, resulting in a 68% probability of a move higher.
It's important to note that technical analysis indicators should not be relied upon solely for making investment decisions. They should be used in conjunction with other forms of analysis and risk management strategies. It's always prudent to do your own research, consider other factors such as fundamental analysis, market conditions, and company news, and consult with a financial professional before making any investment decisions.
Alphabet (GOOGL) showed a significant increase in market cap last week, and its Momentum Indicator turning positive could indicate a potential new upward trend. Traders and investors may want to monitor the stock closely and consider using additional analysis and risk management strategies before making any investment decisions.
GOOGL's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for GOOGL turned positive on May 10, 2023. Looking at past instances where GOOGL's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 05, 2023. You may want to consider a long position or call options on GOOGL as a result. In of 89 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The 50-day moving average for GOOGL moved above the 200-day moving average on May 03, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GOOGL advanced for three days, in of 342 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 328 cases where GOOGL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 71 cases where GOOGL's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GOOGL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GOOGL broke above its upper Bollinger Band on May 10, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. GOOGL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.064) is normal, around the industry mean (21.614). P/E Ratio (27.701) is within average values for comparable stocks, (40.835). Projected Growth (PEG Ratio) (1.546) is also within normal values, averaging (3.151). Dividend Yield (0.000) settles around the average of (0.023) among similar stocks. P/S Ratio (5.705) is also within normal values, averaging (10.046).
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