Solid News

Alphabet Inc. Market Update

12/2/2022 1:56 PM

The stocks of the American holding Alphabet Inc. are trading in a local corrective trend at 101.00.

Leading experts are still restrained in their comments on the prospects of the company's shares at the end of the year, but some have already hurried to lower their forecasts. Thus, analysts at Mizuho Bank reduced their target price for the end of the year from 140.0 dollars to 135.0 dollars, citing the expected too restrained growth in the number of staff in 2023 at 5.0%. Also, Alphabet Inc. has already announced that in Q4 the increase in the number of employees will be 50.0% lower than in Q3, and this will have a restraining effect on the growth of the artificial intelligence sphere. Thus, analysts will focus on Alphabet Inc.'s detailed cost-cutting plan.

As for the company's financial indicators, they do not contribute to the long-term growth of shares. Thus, revenue for the third quarter amounted to 69.09B dollars, which is inferior to the forecast of 71.0B dollars and the indicator of the previous quarter of 69.69B dollars. Earnings per share continued to decline and reached 1.06 dollars against 1.21 dollars a quarter earlier and 1.26 dollars expected by analysts.

The corrective growth continues on the four-hour chart, which is a consequence of working out the Flag pattern.

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

Support levels: 99.50, 92.00. | Resistance levels: 103.00, 109.00.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023