• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Based on Relative Strength, Alphabet (GOOGL) Is An Unloved Stock
Stock

Based on Relative Strength, Alphabet (GOOGL) Is An Unloved Stock

by February 4, 2024
by February 4, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Nearly two weeks ago, I was discussing in our FREE EB Digest newsletter why I felt Alphabet (GOOGL) was poised for a decline after earnings. It was continuing to push higher, which, on the surface, was a fairly bullish signal. However, if you looked at how strong internet stocks ($DJUSNS) were performing as a whole, then it became rather obvious that the big Wall Street firms weren’t overly impressed with GOOGL as it head towards its quarterly earnings release. Check out the bottom two panels – the first showing GOOGL:$DJUSNS relative strength and then the second showing the relative strength of Meta Platforms (META) vs. the internet group (META:$DJUSNS):

In our January 26th EB Digest newsletter article, I featured the above trading range (139-144) as a possible landing area for GOOGL after earnings. Heading into its earnings, GOOGL was overbought and was a SIGNIFICANT relative under performer. It’s pretty obvious to me that META was leading the internet group, while GOOGL was the beneficiary of being in a strong group. GOOGL’s recent weakness did, however, send the stock down into that 139-144 trading range and GOOGL is now testing a longer-term uptrend line. While I’d expect a price bounce from here, it’s really relative strength that I’ll be watching.

The more leading stocks in leading industry groups that we own, the better our portfolios are likely to perform.

In our Monday morning FREE EB Digest newsletter, I’ll be featuring a stock that is setting up potentially for a BIG move higher – at least based on the way it’s been trading, relative to its peer group. You can REGISTER for our FREE newsletter with your name and email address. There is no credit card required and you may unsubscribe at any time.

Happy trading!

Tom

You Might Also Like
  • Bearish Divergences Plaguing Former Leadership Names
  • Target Hit on SPY Pullback
  • Stock(ing) Stuffers That Could Be Loving the High 2024
  • The Road to SPX 5000
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Why This Latest Bull Market Advance Is So Bullish
next post
Israel issues detailed threat to Hezbollah, Iran as Gaza war hits 4 months

You may also like

Opposite George Week Is Underway!

July 18, 2023

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

September 26, 2023

Arista Networks: A Profitable Tech Stock That Has Room to...

November 1, 2023

EQUITIES STRUGGLE AS MORE SECTORS TRY TO KEEP THE TREND...

July 29, 2024

Are We Seeing 2020 All Over Again!?

December 15, 2023

Silver’s Surge is No Fluke—Here’s the Strange Ratio Driving It

June 6, 2025

The Bullish Case for Small Caps vs. Large Caps

January 14, 2025

Bearish Divergences in 2 KEY Growth Stocks: BEWARE!

June 13, 2024

Closing the Potential Gap

March 15, 2023

Stocks Regain Some Ground Amid Rising Yields, Gold Prices, US...

October 22, 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

    • The NASDAQ 100, On The Brink Of A Breakout, Needs Help From This Group

      June 21, 2025
    • Tesla agrees to first deal to build China’s largest grid-scale battery power plant

      June 21, 2025
    • Oil prices rise more than 1% as Israel vows to intensify attacks on Iran

      June 20, 2025
    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

      June 20, 2025
    • Apple looking to make ‘premium’-priced folding iPhones starting next year, analyst says

      June 20, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,599 views
    • 2

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

      June 27, 2024 2,875 views
    • 3

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

      August 9, 2024 2,578 views
    • 4

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

      July 10, 2024 2,541 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,417 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,143)
    • Investing (538)
    • Stock (2,622)

    Popular Posts

    • 1

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

      June 25, 2024
    • 2

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

      June 27, 2024
    • 3

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

      August 9, 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

    • The NASDAQ 100, On The Brink Of A Breakout, Needs...

      June 21, 2025
    • Tesla agrees to first deal to build China’s largest grid-scale...

      June 21, 2025
    • Oil prices rise more than 1% as Israel vows to...

      June 20, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,143)
    • Investing (538)
    • Stock (2,622)

    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

    Growth Sectors Tumble as Defensive Plays...

    October 14, 2023

    Here’s How To Find The Best...

    January 19, 2025

    Stock Market Ends the Week Strong:...

    January 4, 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