Google stock: buy or sell
Jun 22nd, 2021
Google stock brief
- Google only moved a 0.71% after hitting new all-time highs last Thursday
- 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?
In the current situation of Google there is just one buy setup eligible:
Uptrend buy setup
Google stock is in an uptrend since last January that so far has marked an amazing 49.00% gain. Price marked a pull back in this uptrend at $2,230.05 in mid-May, and since then it bounced off a 13.41%. Price just broke out above the buy point at $2,452.38, but it can be traded. If price goes beyond $2,575.00, don't chase the price and wait for another opportunity. If you decide to enter this trade, the suggested stop loss is at $2,207.14
|Buy setup||Buy point||Stop loss||Risk|
|Uptrend buy setup||$2,452.38||$2,207.14||10.00%|
Should I sell Google stock?
When is it time to sell Google?. Trading strategies let us to avoid impulsive decisions based on our sentiments or the buzz surrounding the market. Our trading system selects very simple strategies to guide us on when is the best time to sell our shares. Be aware that these strategies are not intended for selling short $GOOG stock
As a golden rule, you should not mantain an investment that yields higher than expected losses at the time of purchase. When to sell shares must always be determined 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 shares and your operation is in profit probably is not time to sell now
In the last month, just one brokerage rating was published for Google
|Jun 2nd, 2021|
Google stock analysis
Since last January, Google has been printing an uptrend that so far marked an amazing 48.86%. During this uptrend, the price offered some entry points on the breakouts. Latest pullback was in mid-May, when price bounced at $2,230.05. On June 7, Google broke out above its last top ($2,452.38) giving a good buy point
$GOOG at Highs
Last Thursday, Google marked all-time highs (ATH) again at $2,543.93. Stock hit new all-time highs 6 times in the last 10 sessions
Supports and resistances
Price is at all-time highs and there are not upper resistance levels.
The current supports are:
The price is trading very close to the upper Bollinger band, signaling some level of overbought in recent sessions. This is not a bearish indicator, as price can move in these levels for many days and weeks
Relative strength index
The RSI dropped below the overbought level of 70 on June 15 after just crossing to the overbough zone for 1 day (weak signal). The RSI value on Monday was 66.92. Google shares just changed a 0.08% since that level was lost
Google stock price history
Google started trading priced at an adjusted price1 of $49.81 on Aug 2004. Since then, GOOG stock has risen by 4,977.49%, with an average of 311.09% per year. An investment of $1,000USD on the IPO would be valued $50,774.94 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Google stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price predictions are issued every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, financial institutions release their price estimates based on the stock price action and the company fundamental data. Most of these estimates follow the publication of new financial information by the company, and many times. If you are a small investor you shouldn't trade based on these forecasts.
In the last 30 days we couldn't find any price target published for Google stock.
|Brokerage firm||Price target|
|Jun 2nd, 2021|
|KGI Securities||Not available|
Earnings and financials
Shareholders call was hosted by Google ($GOOG) last April after presenting the financial report. Google beat market estimates and posted of $26.29, that is a 65.55% surprise compared to the initial estimates of $15.88. In line, reported sales were $55.3 billion versus estimates of $51.7 billion.Same quarter last year, reported EPS was $9.87, so recently reported EPS means an improvement of 166.36%. Looking at revenues, figures exploded a 34.39% compared to $411.6B same quarter 12 months ago.
Google ($GOOG) is hosting the quarterly earnings call late next July.
Please read:The comments published in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this report does not know the particular situations 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 Viewpoints are published for general educational purposes only
|Monday, June 21st, 2021|
|Day range||$2502.69 - $2540.74|
|Average true range||$39.25|
|50d mov avg||$2,378.23|
|100d mov avg||$2,225.22|
|200d mov avg||$1,946.96|
|Earnings date||July 29th, 2021|