$Alphabet(GOOGL)$ $ROUNDHILL DAILY 2X LONG MAGNIFICENT SEVEN ETF(MAGX)$ πΊπ ±οΈππ »π »π Έππ ·πΊ
Kia ora Tiger traders!
πππ Iβve just added to my $GOOGL position in overnight trading, locking in at $166.80, and my chart is pointing to a bullish setup! ππͺ Hereβs why Iβm confident:
1. Short-Term Chart Target: The immediate target is $174, a key resistance level expected to be tested within the first week of November. If GOOGL breaks through this, the next milestone is $180. The chart signals a breakout potential, which could set us up for a bigger run towards mid-November.
2. Strong Earnings Catalysts: With Q3 earnings approaching, Alphabetβs growth in cloud services and AI integrations continues to drive confidence. Historically, GOOGL has consistently beaten earnings estimates, paving the way for further gains.
3. Analyst Consensus: Analysts are backing this momentum, with a βModerate Buyβ rating and a 22% upside to an average target of $201.76. This aligns well with my chartβs projection, which eyes a mid-November push towards $190β$200.
4. MAGX: An Affordable Alternative: For those who find $GOOGL too pricey, check out MAGX, the Roundhill Daily 2X Long Magnificent Seven ETF, trading at around $38. It offers 2x leverage on the βMagnificent Seven,β including Alphabet, making it a budget-friendly way to capture tech sector growth. Keep in mind that this leverage can amplify both gains and risks, so itβs not for the faint-hearted. MAGX has surged 44.8% this year, showing strong performance, but always consider the extra volatility .
With these signals in play, $GOOGL and its leveraged cousin MAGX could be poised for a strong finish to the year. π
Happy trading ahead. Cheers, BC π
@Tiger_comments @TigerObserver @Daily_Discussion @TigerPM @TigerWire @TigerGPT @TigerStars @TigerPicks
Comments
Please find below the analysis of Alphabet Inc. (GOOGL):
Business and Industry: Alphabet is a multinational conglomerate that focuses on internet-related services and products. The company operates through various segments, including Google, Other Bets, and Google Cloud. Alphabet's primary source of revenue is advertising, but it also offers a wide range of products and services, such as Google Search, YouTube, Cloud Computing, and Android operating system. With the increasing demand for digital services, Alphabet is well-positioned to benefit from the growth of the internet and technology industry.
Earnings Forecast: According to the latest earnings forecast, Alphabet is expected to have strong growth in the coming years. For 2024, the forecasted earnings per share (EPS) is $7.66, with a forecasted gross income of $347.16 billion. In 2025 and 2026, the EPS is expected to increase to $8.7 and $9.99, respectively, with forecasted gross incomes of $386.09 billion and $425.21 billion. These positive earnings projections indicate a favorable outlook for Alphabet's future business growth.
Recent Trends:
Support Price: As of October 25th, the support price for GOOGL is $163.11.
Resistance Price: As of October 25th, the resistance price for GOOGL is $165.31.
Stock Price: As of October 28th, the stock price of GOOGL is $165.27.
Analyst Viewpoints: Analysts have a positive outlook on Alphabet, with a "Moderate Buy" rating and an average target price of $201.76, representing a 22% upside potential. This aligns well with your chart's projection, which eyes a mid-November push towards $190-$200. The positive analyst recommendations and target price further support the bullish setup for GOOGL.
Capital Flow Data: Over the past 5 days, there has been a net outflow of capital in GOOGL. However, the detailed daily data shows both inflows and outflows, indicating normal fluctuations in capital flow. It's important to consider these capital flows as they can influence short-term market sentiment.
Profitability Ratio: The latest profiteer ratio for GOOGL is 0.7283, which indicates a positive profitability trend.
In summary, based on the analysis, Alphabet (GOOGL) shows promising signs for further growth. The positive earnings forecast, analyst recommendations, and chart projection support a bullish outlook. However, it's essential to closely monitor market conditions and consider the inherent risks associated with investing in the stock market.
Please note that the above analysis is for informational purposes only and should not be considered as investment advice. It is advised to conduct thorough research and consult with a financial professional before making any investment decisions.
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Great article, would you like to share it?