Company Overview: Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube.

As per our previous US Diversified Opportunities report published on GOOGL on 03^rd November 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 86.97 based on “impressive net margin, acquisition of Mandiant, share repurchase programme, upside indicated by valuation and key risks associated’, and the stock price has now moved by ~23.88% since then and moved above R1 and R2 mentioned in the previous report.

Noted below are the details of support and resistance levels provided in our previous report:

GOOGL’s Daily Chart

GOOGL’s Daily Price Chart. Source: REFINITIV, Analysis by Kalkine Group  

Considering the target level attainment, leading momentum indicator 14-day RSI charted into overbought zone which implies a pullback from the current trading levels, rising cost of capital, a ‘Sell’ rating is assigned to “GOOGL” stock at the closing market price of USD 107.74 (as of February 02, 2023).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is February 02, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’