Alphabet is expected to report an EPS of $1.34 on revenue of $72.82bn. Currently trading at around $120.72 a share.
Alphabet is trading at around $120.72 a share. We can see the price has been trading sideways while gradually falling since the 7th of June, we had a test of the lower Bollinger Band ($115.86) before a push higher across both the 13th and 14th of July towards the upper Bollinger Band ($126.33). Since then, the price has once again retraced, correcting before the earnings report. At present, it is resting just above the middle moving average of the Bollinger bands, a close above this moving average could be a sign of consolidation. Though this will be massively influenced by the earnings and future outlook. For the time being, resistance sits at $121.20 then at $122.60. A break above $122.60 could then potentially see a push back up towards the upper Bollinger Band ($125.62). Whereas support levels sit at $118.23 then at $116.13 and then at $115.38. A break and close below $115.13 could then open the possibility of a move lower to as low as $110. However, such a fall after the AI boom and the US economy's improvement could only be possible if we saw a huge sell-off, raised recession fears, and extremely poor earnings. Looking at the technical indicators, MACD is slightly negative as a result of last week's negative closing, but the RSI is neutral as it reads 49. Alphabet is expected to report an EPS of $1.34 on revenue of $72.82bn.
