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Alphabet Inc. Market Update

11/3/2022 2:55 PM

Alphabet Inc.'s stocks are still in a global downtrend and are trading at 87.00.

Earlier, it became known about the suspension of the company's policy in India, which provided for the obligations of all local startups to use the billing system from Google Corporation, which is part of the holding. Earlier, the Competition Commission of India (CCI) called for providing detailed information about the service fee and ensuring transparency in communicating with the creators of applications using the service of the American giant, but there were no retaliatory measures, as a result of which the regulator fined the company 113.0M dollars. In turn, Google plans to charge a commission of 15.0% to 30.0% from app developers for each sale when using the billing system.

Last week, Alphabet Inc. reported financial results for the next quarter: revenue was at 69.09B dollars, which is lower than the forecast of 71.34B dollars and the previous quarter's figure of 69.69B dollars, and earnings per share – 1.06 dollars versus 1.21 dollars a quarter earlier. Thus, if we evaluate the dynamics of stocks after the split, there are no prospects for growth yet, and the decline is likely to continue.

The global downtrend continues to develop, and the price is still updating the lows of the year almost weekly.

Technical indicators hold a sell signal: the range of fluctuations of the EMA of the alligator indicator is expanding, and the histogram of the AO oscillator is trading in the negative zone.

Support levels: 85.50, 80.30. | Resistance levels: 89.20, 94.50.

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