Google: Technicals And Valuation Indicate A Buying Opportunity … – Seeking Alpha
Google, or Alphabet, (NASDAQ:GOOGL) (NASDAQ:GOOG) owns the most popular search engine in the world and is in an advertising market duopoly along with Meta (META). Despite its strengths, the company’s stock price has been butchered by over 38% since its all-time high in November 2021. This has been driven mainly by the tepid advertising market, given then the macroeconomic environment. A positive is the advertising industry has a tendency to be cyclical by nature, thus I expect a rebound long term. In this post, I’m going to break down a technical analysis I’ve done of Google’s share price before diving into its latest business news, and valuation, let’s dive in.
Technical Analysis
Generally, I invest in companies using fundamental indicators, however, I believe analyzing the technicals can help provide extra insight into possible buy points and drops. Below I have added a few trend lines and indicators. The first is a “Fibonacci retracement” which is the multi-colored box with…
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source: https://news.oneseocompany.com/2023/01/12/google-technicals-and-valuation-indicate-a-buying-opportunity-seeking-alpha_2023011239159.html
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