Buying Dips in Alphabet
Alphabet (GOOG) shares have declined by 10.0% since early February, following a Q4 earnings report that fell slightly short of expectations. The company reported $96.47 billion in revenue, missing the forecasted $96.69 billion. However, other financial metrics remained strong, suggesting the stock is well-positioned for recovery amid a rising market.
Currently, GOOG has reached its uptrend support level and is only 11.50% below its all-time highs. Given this setup, I am considering a long position in the $184–188 range, with a price target of $200–204. To manage risk, a stop-loss at $172 seems appropriate.
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