Alphabet Overbought on Hourly AHead of Quarterlies

Alphabet Overbought on Hourly AHead of Quarterlies for NASDAQ:GOOGL by FXCM

Alphabet Overbought on Hourly AHead of Quarterlies

Alphabet Inc. NASDAQ:GOOGL



Google is in the bullish area on the daily chart on the left. The hourly EMAs and stochastic are in bullish mode and potentially align short-term traders with the daily. The stochastic is above 80 level and maintenance here (blue arrow) increases the chance of a successful trade. However, the RSI is overbought (blue shaded area) and a pullback may give a better risk-adjusted entry, as the oscillator normalises. Trend following indicators may be useful in this case as a potential exit tool. Stop under hourly support in conjunction with risk management techniques. Revenue is expected to be $55.95bn ($38.3 bn ) and EPS is forecast at $19.19 ($10.13).

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