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blue-chip

One NASDAQ-Listed Interactive Media Stock to Consider: Alphabet Inc

May 16, 2023 | Team Kalkine
One NASDAQ-Listed Interactive Media Stock to Consider: Alphabet Inc

Section 1: Company Fundamentals

1.1 Company Overview:

Alphabet Inc. (NASDAQ: GOOGL) 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.

Kalkine’s US Daily Report covers the Company Overview, Summary Table, Key positives & negatives, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

  • The stock has given a return of 19.78% in the last six months but a correction of 4.16% in last nine months.
  • The stock is leaning towards the higher band of its 52-week range of USD 122.43 and 52-week low price of USD 83.34. The price has its support range around the USD 100.00-USD 115.00.
  • The price is currently trading above both its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of 72.55, with the expectation of a continuation of the uptrend.

1.2 Summary Table

1.3 The Key Positives, Negatives, and Investment summary

1.4 Key Metrics:

The company has performed better than its peers in terms of operational efficiency, evident by higher profitability margins at different levels of operations.

Section 2: Alphabet Inc. (“Buy” at current price of USD 117.56, as of May 16, 2023, at 06:45 am PDT)

2.1 Company Details

2.2 Valuation and Technical Guidance

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

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 levels is May 16, 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: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.