Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

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

by February 4, 2024
February 4, 2024
Based on Relative Strength, Alphabet (GOOGL) Is An Unloved Stock

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

0
FacebookTwitterGoogle +Pinterest
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

Week Ahead: Fed Fears Keep Market On Tenterhooks;...

September 17, 2022

TEVA: A Pharma Stock to Watch

September 11, 2023

AMD Plunges to a Critical Support Level: Is...

April 16, 2024

Post Tech Earnings & FOMC — Give Retail...

February 1, 2024

Market Research and Analysis – Part 5: Drawdown...

April 11, 2024

Mish’s Daily: Granddad Russell 2000 and His Best...

August 22, 2022

Trading the QQQ in Three Time Frames

November 4, 2023

Four Ways to See the World’s Second-Most Important...

March 17, 2023

Sector Spotlight: Stealth Sector Rotation for XLY

December 13, 2022

Earnings Week in Full Swing: Don’t Overlook These...

April 25, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

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

    Recent Posts

    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,567)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.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 © 2025 futureretirementsuccess.com | All Rights Reserved