Alphabet Inc (GOOGL) Makes Big Move Relative to Past Month, Down 5.45%; Breaks Below 20 and 50 Day Averages

Alphabet Inc 4 Hour Price Update

Updated June 29, 2020 04:41 PM GMT (12:41 PM EST)

In the past four hours of today’s trading session, GOOGL’s price is up $29.36 (2.15%). To help put that in perspective, note that Alphabet Inc’s peers in the in the Business Services industry are up 1.01% on average during this time, while the broader Technology sector is up by an average of 1.41%.

Alphabet Inc Daily Price Recap

The back and forth price flow continues for Alphabet Inc, which started today off at 1362.54 US dollars, down 5.45% ($78.56) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 308.85% from the day prior, and up 218.98% from the same day the week before. Here is a daily price chart of Alphabet Inc.

Alphabet Inc Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Alphabet Inc crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to GOOGL:

    $NVDA Added 3k now long 15k here… gift levels based on the reality of having all major data centers focused on cloud TAM, incl those of $AMZN $AAPL $GOOGL.

    And the headfake pullback — IF it lasts which I doubt — creates fabulous chance for them to crank up the buyback as they have said they would once the Q call is done