Alphabet Inc. (GOOG)

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Our View

Alphabet Inc is the holding company which controls all of Google’s subsidiaries. It was created as part of a restructuring initiative back in 2015. Businesses such as Google, X Development, Calico, Waymo, Nest, Verily, Google Fiber, Capital G are all part of Alphabet. The parent company of Google is now 4th largest technology company in the world and also one of the most valuable companies with plenty of growth potential

The monthly chart of Alphabet Inc since Google’s restructuring shows a clear uptrend. The stock has remained within an upward channel for close to 7 years, as shown by the two yellow trend lines.

Recently, the stock fell significantly by close to 20% from its February high. However, there has been a reversal in April. The stock has bounced back almost 10% from the bottom of the long term trend and is currently testing a significant resistance level at 1230.

A resistance level, shown by the dashed red line, has been in place for close to 20 months. A breakout from this resistance level would be a good entry point to go long with an initial target of 1475, which is the top of the uptrend channel.

Position taken at $1211.45 with stop loss 17.75% below, Just below the long-term trend line. Short term investors take profit at $1482 which represents a 22.5% profit.