GOOGLE How is it looking before the earnings?It has been very long since we last looked into Google (GOOG) but last time we did (November 07 2022) we gave a massive buy signal (see chart below) at the market's absolute bottom:
The stock price rose +49% since then, giving us one of the most successful low risk trades of the year. With the company reporting its Earnings today though, we shift back to the 1D time-frame where the stock has been trading within a clear Channel Up throughout this recovery phase. Based on the 1D MACD Bearish into Bullish Cross sequence, we may be at a Higher Low leg as on March 13.
As long as the price is trading within the Channel Up and the (dotted) Channel Down, we remain bullish, aiming at a +21% rise (standard inside the Channel Up) and a price target of $140.00. If the price breaks below the Channels' bottoms, we will sell, targeting the 1D MA200 (orange trend-line) at $106.50.
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