To The Moon

I am sure some of us who has followed CNBC’s Jim Cramer, he has told investors he is pleased with Google parent $Alphabet(GOOGL)$ most recent quarter, lauding the company’s proof of profitability.

Cramer has indicate that he would buy the stock on a dip. He did mentioned that he had been concerned about how generative artificial intelligence could hurt Alphabet’s search business (this is their “bread and butter.” I would think that the company’s conference call has Cramer convinced that AI is helping search, which in turn helps advertising revenue.

In this article I would like to share what I have found out from the technical on Alphabet stock, and why it is a time to look to buy Alphabet.

Potential Pullback -> Opportunity to Buy?

If we look at how GOOGL have been trading, we would have noticed that there is a signs of pullback, but remember how it has benefit when NIVIDIA stock price surge after its stellar earnings.

So this might be a good time to look into buying GOOGL and when the surge from Nvidia helped Alphabet stock, that is where we would gain an advantage.

Beware Of Potential Taking

As mentioned in previous section, we could see that Alphabet might experience a pullback, from KDJ, if you looked at the chart below, we could see that there is signs of profit taking.

What we need to look out would be the price action and see if Alphabet could form another BUY signal.

RSI Shows Overbought -> Need More Demand (Buying)

We have seen what kind of signal or trend is Alphabet showing, but what we would be interested in is whether there is interest coming from traders and investors.

Currently, Alphabet RSI is in the overbought region, but there is signs of exiting, does it just confirm a pullback?

Or can we expect the traders and investors to come back and push it into a bullish trend?

Summary

I personally think that Alphabet current price is a good target for entry, but we need to be aware of any pullback that might happen.

With the AI leader like Nvidia scoring a strong earnings, we could see that mega caps tech stock like Alphabet could benefit from it.

Appreciate if you could share your thoughts in the comment section whether you think Alphabet is worth a buy now as there is opportunities for more upside with Nvidia surging on increased demand of AI,

@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.