Chart Of The Day: Google - By Any Other Name Is Still Sweet

The Chart of the Day belongs to technology giant Alphabet (GOOG). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation. 

(Click on image to enlarge)

GOOG Price vs Daily Moving Averages

Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, cybersecurity, data, analytics, AI, and machine learning, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

 

Barchart Technical Indicators:

  • 100% technical buy signals
  • 40.30+ Weighted Alpha
  • 36.02% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 1.60% in the last month
  • Relative Strength Index 49.45%
  • Technical support level at $135.64
  • Recently traded at $136.74 with 50 day moving average of $135.07

 

Fundamental Factors:

  • Market Cap $1.74 trillion
  • P/E 29.44
  • Revenue expected to grow 1.80% this year and another 11.30% next year
  • Earning estimated to increase 16.70% this year, and an additional 18.30% next year and continue to compound at an annual rate of 17.98% for the next 5 years

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • Wall Street analyst gave 34 strong buy, 10 buy and 8 hold opinions on the stock
  • Analysts' price targets are between $113 and $151 with a consensus of $150
  • The individual investors following the stock on Motley Fool voted 1,506 to 41 for the stock to beat the market with the more experienced investors voting 239 to 7 for the same result
  • Value Line rates it an above average 2 plus a Price Growth Persistence score of 95 and a Price Stability score of 90
  • CFRAs MarketScope rates it  4b star buy with a price target of $157

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Disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely ...

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