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Alphabet Inc. expects record Q4 earnings

1/24/2023 2:12 PM

Shares of the American holding company Alphabet Inc. are moving within a local corrective trend, around 101.00.

Yesterday, Bloomberg reported that the US Department of Justice is preparing to initiate legal proceedings regarding the company's dominant position in the US digital advertising market. The agency filed a similar complaint against the corporation in 2020, but the final decision can only be made in September. Also, it involved evaluating the activities of a monopoly among search engines and did not have a specific claim, and the current lawsuit is aimed at limiting the income of Alphabet Inc. from the advertising business, which accounts for up to 80% of all its profits.

The corporate financial report will be published on February 2: according to analysts, the income will be 76.6B dollars, which is much more than 69.09B dollars in the third quarter and could become a record revenue figure in the history of Alphabet Inc. Earnings per share (EPS) expectations are also positive at 1.18 dollars, up from 1.06 dollars previously.

On the four-hour chart, corrective growth continues due to the developing of the Head and shoulders pattern.

Technical indicators keep a buy signal: the range of fluctuations of the Alligator EMA is expanding, and the AO histogram is trading in the positive zone.

Resistance levels: 103.00, 112.00. | Support levels: 98.50, 90.80.

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