Alphabet Inc (GOOGL) Up 0.42%, Price Base in Formation Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Alphabet Inc 4 Hour Price Update

Updated June 18, 2020 05:11 PM GMT (01:11 PM EST)

The price of GOOGL dropped $-18.52 (-1.28%) over the past four hours. To help put that in perspective, note that Alphabet Inc’s peers in the in the Business Services industry are up 0.23% on average during this time, while its peers in the broader Technology sector are down by an average of -0.11%.

Alphabet Inc Daily Price Recap

Alphabet Inc closed the day prior up 0.42% ($6.07); this denotes the 4th day in a row an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 0.04% from the day before — and down 9.01% from the same day the week before. Below is a daily price chart of Alphabet Inc.

Alphabet Inc Technical Analysis

Notably, Alphabet Inc is now close to its 20 day averages, located at 1429.63 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 8 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about GOOGL:

    One thing has been very obvious in the last few weeks. A lot of companies such as $GOOGL and $FB have been copying aspects of $PINS Pinterest. Clearly, they see a they see a threat/ advantages. Pinterest has a perception: shopping 🛍 and no one perceives either of those platforms as a place to buy. Not good for ads

    lordwilmore