Securities of the US internet giant alphabet (formerly Google) are very strong again this week and are trending north with great strides. This could start an immediate summit storm and continue the success story.
But as early as next week (due date October 29) the tech group will put fresh quarterly figures on the table and must also be able to fundamentally underpin the advance praise. Technically, the course of the share price is coherent, this week’s weekly candle has so far presented itself as a bullish hammer, the initial weak phase has been shaken off. The support of 1,530 US dollars also contributed to a continuation of the trend and now suggests a summit storm. On the other hand, the outcome of the US presidential elections could provide negative impetus; the markets are currently pricing in an election victory for the incumbent Trump, while market observers expect discounts under the challenger Biden.
Light and shadow
In the few days left before the US election, the paper could be from alphabet Pull up even further, the next targets can be derived at 1,643 and at the annual highs at 1,730 US dollars for the bullish variant. The prerequisite for this would be a clear weekly closing price above the price mark of 1,587 US dollars. A bearish scenario, on the other hand, outlines a possible sell-off of the alphabet-Share back to support level at $ 1,530. Below that, however, the 50-week average at currently 1,410 US dollars (rising) and the short-term upward trend there would have to be used as support. The markets are likely to remain volatile.
- Resistances: 1,615; 1,630; 1,650; 1,671; 1,708; $ 1,730
- Supports: 1,587; 1,575; 1,549; 1,530; 1,510; $ 1,471
alphabet in US dollars in the daily chart; 1 candle = 1 day (logical candle chart display)
Observation period: 06.01.2020 – 22.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/US02079K3059
alphabet in US dollars in the weekly chart; 1 candle = 1 week (logical candle chart display)
Observation period: 19.10.2015 – 19.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/US02079K3059
Products based on Alphabet’s stock and other underlying assets can be found at: www.onemarkets.de
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The Alphabet share is starting again first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
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