Google stock: buy or sell?
Nov 24th, 2020
Google stock brief
- Google closed on Tuesday at $1,768.88 after rising a 1.96%.
- Alphabet Inc. provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.
Should I buy Google stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $GOOG stock a buy?
Currently, Google stock matches one trading strategy:
ATH buy setup
All-time Highs is always an excellent buy point for those who like to buy high and sell higher. The good point of buying at ATHs is that shares price doesn't have upper resistances, and usually it scales quickly. However, you must always be aware of a possible bulls trap that may trigger your buy order and then falls sharply. That's why a stop loss is so important. Google can break to ATH any time soon, as it only needs to go up a 2.78%. Setup your buy order at $1,818.06 if you want to trade with this strategy. Set your stop-loss at $1,636.25
|Buy setup||Buy point||Stop loss||Risk|
|ATH buy setup||$1,818.06||$1,636.25||10.00%|
Should I sell Google stock?
When you own a stock with some profit, it's really difficult to decide the best moment to sell and get your profits. Trading strategies give us the ability us to avoid impetuous decisions based on our personal sentiments or the buzz that surrounds the market. When selling, as well as buying, our strategies are very simple to follow and are only applicable for selling stocks in your porfolio, not for selling short Google stock
A golden rule is that you should never keep a trade that leads to losses greater than those expected at the time of purchase. The timing to sell your stock always has to be ruled by the stop-loss (automatic or manual)
Is it time to sell Google stock?
Currently, Google stock doesn't match any of our preferred sell setups, so if you own Google stock and your operation is in profit probably is not time to sell now
In the last month, 13 analyst ratings were published for Google. General sentiment is bullish, with 12 out of 13 publishing optimistic forecasts
|Oct 30th, 2020|
|Credit Suisse Group||Buy|
|Deutsche Bank Aktiengesellschaft|| |
|JPMorgan Chase & Co.|| |
|Robert W. Baird||Neutral|
|Royal Bank of Canada|| |
|The Goldman Sachs Group|| |
|UBS Group|| |
|Nov 2nd, 2020|
|Canaccord Genuity|| |
Google stock analysis
Supports and resistances
Price is at highs and there are not upper resistance levels.
The current support levels are:
Relative strength index
When the Relative Strength Indicator stays for so long below 70 and above 30, without signaling moments of overbought and oversold, the indicator turns out to be of little use, and we find ourselves in one of these cases.
Google stock price history
Google went public priced at an adjusted price1 of $49.81 on Aug 2004. Since then, GOOG stock has risen by 3,451.25%, with an average of 215.70% per year. If you had invested $1,000USD in Google stock on Aug 2004, it would be valued $35,512.55 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Google stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are issued every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, brokerage institutions release their price forecasts based on the stock price action and the company fundamental data. Most of these forecasts follow the release of new fundamental data by the company, and usually. If you are a small investor you must not invest based on these price targets.
Averaging all price targets exposed below, the estimated price for Google stock is $212.11. That is a 88.01% less than the last price ($1,768.88).
|Brokerage firm||Price target|
|Oct 30th, 2020|
|Barclays||$1.00 → $1.00|
|Credit Suisse Group||$1.00 → $1.00|
|Deutsche Bank Aktiengesellschaft||$2.00 → $2.00|
|JPMorgan Chase & Co.||Not available|
|Mizuho||$1.00 → $1.00|
|Raymond James||$1.00 → $1.00|
|Robert W. Baird||$1.00 → $1.00|
|Royal Bank of Canada||Not available|
|The Goldman Sachs Group||Not available|
|UBS Group||Not available|
|Wedbush||$1.00 → $1.00|
|Nov 2nd, 2020|
|Canaccord Genuity||$1,800.00 → $1,900.00|
Earnings and financials
In late October, Alphabet Inc. ($GOOG) reported EPS for fiscal third-quarter that strongly beat Wall St. expectations. Quarterly EPS was $16.40 per share instead of $11.21. This quarterly report represents an earnings surprise of 46.30%. Sales resulted of $46.2 billion compared to $42.9 billion predicted by analysts.Same quarter last year, reported EPS was $10.12, so recently reported EPS is a gain of 62.06%. Revenue exploded a 14.01% on an annualized basis in the fiscal third-quarter, from $405.0B to $461.7B last quarter.
Google ($GOOG) is releasing earnings report next February.
Google belongs to the Internet Content & Information industry, which contain 38 industry peers.
The following are some of Google most relevant competitors:
|Company||Market cap||Rating||Bullish ratings1|
|Google ($GOOG)||$1.2T|| ||12|
|Snap ($SNAP)||$57.3B|| ||2|
1 In the last 30 days.
To better understand Google performance you must compare its gains with other related stocks in same sector or industry.. For Google, the benchmark is made against Google, Facebook, Snap, Spotify, Twilio and Pinterest.
Important note:The thoughts written in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this text does not have an understanding of the particular scenarios of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are provided for educative motives only
|Tuesday, November 24th, 2020|
|Day range||$1728.2 - $1771.6|
|Average true range||$44.19|
|50d mov avg||$1,591.18|
|100d mov avg||$1,567.25|
|200d mov avg||$1,448.18|
|Earnings date||February 1st, 2021|