Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Based on Relative Strength, Alphabet (GOOGL) Is An Unloved Stock

by February 5, 2024
February 5, 2024
Based on Relative Strength, Alphabet (GOOGL) Is An Unloved Stock

Nearly two weeks ago, I was discussing in our FREE EB Digest newsletter why I felt Alphabet (GOOGL) was poised for a decline after earnings. It was continuing to push higher, which, on the surface, was a fairly bullish signal. However, if you looked at how strong internet stocks ($DJUSNS) were performing as a whole, then it became rather obvious that the big Wall Street firms weren’t overly impressed with GOOGL as it head towards its quarterly earnings release. Check out the bottom two panels – the first showing GOOGL:$DJUSNS relative strength and then the second showing the relative strength of Meta Platforms (META) vs. the internet group (META:$DJUSNS):

In our January 26th EB Digest newsletter article, I featured the above trading range (139-144) as a possible landing area for GOOGL after earnings. Heading into its earnings, GOOGL was overbought and was a SIGNIFICANT relative under performer. It’s pretty obvious to me that META was leading the internet group, while GOOGL was the beneficiary of being in a strong group. GOOGL’s recent weakness did, however, send the stock down into that 139-144 trading range and GOOGL is now testing a longer-term uptrend line. While I’d expect a price bounce from here, it’s really relative strength that I’ll be watching.

The more leading stocks in leading industry groups that we own, the better our portfolios are likely to perform.

In our Monday morning FREE EB Digest newsletter, I’ll be featuring a stock that is setting up potentially for a BIG move higher – at least based on the way it’s been trading, relative to its peer group. You can REGISTER for our FREE newsletter with your name and email address. There is no credit card required and you may unsubscribe at any time.

Happy trading!

Tom

0
FacebookTwitterGoogle +Pinterest
previous post
‘We need to win’ AI race against Beijing, House China Committee member warns
next post
Why This Latest Bull Market Advance Is So Bullish

Related Posts

Tesla Tests Key Support: Is This a Trade?...

February 3, 2024

Bullish Breadth Improvement Suggests Further Upside For Stocks

May 14, 2025

The Fed Talked, The Market Reacted. Think Value.

December 18, 2023

Market Movers in Action: How to Identify High-Probability...

March 7, 2025

Top Ten Hidden Features of StockCharts, Features 1-5

November 9, 2023

As AI Fades, Oil Service Delivers a Gusher

July 9, 2023

Your Money And You: This Investment Strategy May...

January 21, 2024

Market Chaos: How to Spot Bottoming Stocks Before...

February 14, 2025

Week Ahead: VIX At A New Multi Year...

July 29, 2023

Does “NoGo” for the S&P = NEW Opportunities...

August 18, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Gold’s Meteoric Rise: Can the Price Break US$4,000 in 2025?

    • COB: Repayment of Promissory Note

    • Lo Herma Resource Drilling Timing Confirmed

    • Reinstatement to Quotation

    • Tariff Talks: Swiss Propose Investment in US Gold Refining

    Categories

    • Business (1,395)
    • Investing (2,975)
    • Politics (3,699)
    • Stocks (1,807)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved