GOOGL is under support, GOOG is testing

December 05, 2023, 11:22 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Stock Traders Daily says Alphabet Inc Class A (NASDAQ: GOOGL) is under its longer ter support, while Alphabet Inc Class C (NASDAQ: GOOG) is testing its longer term support level.  The overall view is that support is being threatened.  This is a real-time headline, and updates can be found on our My Stocks Page.  

Longer Term Trading Plans for GOOG

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short GOOG slightly under 133.42, target n/a, stop loss @ 133.81 Details

The technical summary data is suggesting a short of GOOG as it gets near 133.42, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 133.81. 133.42 is the first level of resistance above 132.39, and by rule, any test of resistance is a short signal. In this case, if resistance 133.42 is being tested, so a short signal would exist.

Swing Trading Plans for GOOG

• Buy GOOG slightly over 133.42, target 135.73, Stop Loss @ 133.03 Details

If 133.42 begins to break higher, the technical summary data tells us to buy GOOG just slightly over 133.42, with an upside target of 135.73. The data also tells us to set a stop loss @ 133.03 in case the stock turns against the trade. 133.42 is the first level of resistance above 132.39, and by rule, any break above resistance is a buy signal. In this case, 133.42, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GOOG slightly near 133.42, target 131.03, Stop Loss @ 133.81. Details

The technical summary data is suggesting a short of GOOG if it tests 133.42 with a downside target of 131.03. We should have a stop loss in place at 133.81 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 133.42, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for GOOG

• Buy GOOG slightly over 133.42, target 135.73, Stop Loss @ 133.11 Details

If 133.42 begins to break higher, the technical summary data tells us to buy GOOG just slightly over 133.42, with an upside target of 135.73. The data also tells us to set a stop loss @ 133.11 in case the stock turns against the trade. 133.42 is the first level of resistance above 132.39, and by rule, any break above resistance is a buy signal. In this case, 133.42, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GOOG slightly near 133.42, target 131.03, Stop Loss @ 133.73. Details

The technical summary data is suggesting a short of GOOG if it tests 133.42 with a downside target of 131.03. We should have a stop loss in place at 133.73 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 133.42, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

GOOG Ratings for December 05:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	133.42
P2	128.57	131.03	142.5
P3	130.61	135.73	151.89

Support and Resistance Plot Chart for GOOG

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