ChartPros Market Insights
July 1 Chart of the Day - Google
Since GOOG price recently made fresh all time highs (ATH) and faded some is the downgrade warranted or simply window dressing?
We'll take a look at their chart from a price action technical analysis perspective so you can decide for yourself.
July 24 Chart of the Day - Google
Alphabet Inc. (Google ticker GOOGL) reports earnings July 25th after market close. The charts below are for its Class A shares which since October 2022 have been making a series of higher highs and higher lows until recently meeting some resistance in the $125 - $130 area and consolidating before deciding on a direction for its next move.
By using the "at the money" straddle options pricing, the market is implying about a $7.40 move in either direction between now and the end of this week (as notated on chart at the time of this writing.)
So what's next?
FAANG Stocks for Halloween?
If you've never heard of the FAANG basket of stocks it's likely you have heard of the companies that it is made up of.
FANG is the acronym for four high-performing technology stocks in the market – Facebook, Amazon, Netflix and Google (now Alphabet, Inc.).