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Buy Google Shares (#GOOG)
Google, a multinational corporation within Alphabet Holdings, specializes in internet search, cloud computing, and advertising technologies.
After the price consolidated above the 165.21 level (the low of November 2024), as well as above the balance line (red moving average) and the simple 55-period moving average, the price pierced the "global" MA200 (green) yesterday. The Marlin oscillator shows strong optimism and supports a breakout above this line. The growth targets are marked on the chart: 176.80 (the March 6 high), 186.27 (the December 20, 2024 low), and 194.41 (the gap boundary from February 5, 2025).
The purchase of Google shares is hedged by selling FedEx (#FDX)
FedEx is a major logistics company and freight carrier.
A progressive Fibonacci grid describes the price movement since July 2024. The last reversal occurred on May 12 at the 123.6% retracement level. As of today, the price has tested the 161.8% level while consolidating below the MACD line, creating a strong chance of breaking through the current level. Accordingly, the movement target is 194.43, the low from April 9, which nearly coincides with the 200.0% Fibonacci level. The probability of reaching and breaking through the target level is high.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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