• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Google Stock Expectations In the Spotlight: Will Earnings Results Exceed Expectations?
Stock

Google Stock Expectations In the Spotlight: Will Earnings Results Exceed Expectations?

by October 24, 2023
by October 24, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Big tech earnings week kicks off with Google parent Alphabet, Inc. (GOOGL) reporting on Tuesday after the close. More recently, the AI boom has been the biggest driver of the stock market, so that could be the main focus, as the big tech companies report. GOOGL has invested significantly into AI and will likely make it central to their search capabilities. Investors will be listening to how the company’s investments could pay off.

When GOOGL opens its books on Tuesday after the market close, investors will be closely listening for guidance, especially in the AI front. Analysts expect EPS of $1.45  and revenues of $75.94 billion. A lot is riding on GOOGL’s earnings report, and the results could push the stock price in either direction. A positive earnings report could send GOOGL’s stock price close to or above its all-time high. If earnings miss expectations, the stock price could see a significant fall. 

GOOGL Price Chart: A Weekly Perspective 

Google’s stock price has been trending higher in 2023 and is trading pretty close to its 52-week high. The Distance To 52-Week High is at 1.41%. When you look at the weekly chart of GOOGL stock, it’s clear that it was in a strong uptrend from April 2020 to November 2022. Since then, the stock went through a reversal and trended lower. But GOOGL has recovered from the downtrend and trended higher in 2023 (see chart below).

CHART 1: WEEKLY CHART OF GOOGL STOCK. Although the stock has been trending higher for 2023, its Q3 earnings report can have a significant impact on the price action of Google’s stock. Chart source: StockChartsACP. For educational purposes.

On the weekly chart, the 23.6% and 38.2% Fibonacci retracement levels coincide with the 21-week exponential moving average (EMA) and the 50-week simple moving average (SMA), respectively, critical support levels to watch.

GOOGL Price Chart: Daily Price Action

Switching to a daily chart of GOOGL (see chart below), you can see that GOOGL stock is holding support at the 50-day SMA. If earnings beat expectations and the company has a strong outlook on AI, the stock price could go higher.

CHART 2: DAILY CHART OF GOOGL STOCK. The daily chart shows a high SCTR score and a rising RSI. Both indicate strength in the stock. Let’s see if GOOGL’s Q3 earnings report sends this stock higher. Chart source: StockChartsACP. For educational purposes.The daily chart is showing strength. The stock bounced off its 50-day SMA and is trading above its 21-day EMA. The StockCharts Technical Rank (SCTR) is registering at around 95, which indicates the stock is strong. The relative strength index (RSI) is around 56, which suggests the stock has upside room if earnings are strong. 

Google’s stock price today is trading higher, but investors are probably waiting to hear what the company says in their earnings conference call before buying more shares. 

If earnings beat and guidance is positive, and the stock trends higher, look for a close above the October 12 high of $141.22. This would be a higher high, a requirement to seal the uptrend. 

If, on the other hand, GOOGL reports disappointing earnings, the stock price could fall significantly. A drop below the September 26 of $127.22 would bring the stock price to a lower low, which would be an indication of a downtrend.

Take a deep breath and wait for the 4:00 PM showdown. After-hours trading action should be interesting.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

You Might Also Like
  • Market Timing for a Rule-Based Strategy
  • S&P 500 Now in Weakest Seasonal Period… Or Is It?
  • One MAJOR Concern About Friday’s Rally
  • Golden Cross Carries Some Little-Known Magic
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Autoworkers strike expands again with walkout at GM SUV plant
next post
Key Market Relationships for the Next Big Move

You may also like

MEM TV: How to Tell When It’s Safe to Get...

September 27, 2023

The Yin and the Yang of the Stock Market

May 20, 2023

Finding the Leaders after a Sharp Decline – with Video...

September 26, 2023

It’s TOO EARLY to Be Bullish on Tesla

June 18, 2024

Larger Pullback Could Be Forming

February 17, 2023

DP Trading Room: Don’t Forget The MONTHLY CHARTS! Earnings Spotlight

September 27, 2023

Two Consumer Stocks Popping to New Swing Highs!

June 27, 2024

The Halftime Show: Is Tech Becoming a Safe Haven?

March 20, 2023

Going, Going, Gone: End of Week Themes with GoNoGo Charts

January 16, 2023

MarketCarpets: The Fastest Way to Scan for Hidden Market Opportunities

October 14, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Surprise! These Grocery Stocks are Crushing...

    May 24, 2024

    How To Profit From Bullish Gap-Down...

    March 16, 2024

    Which Will Hit First: SPX 6100...

    May 9, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here