Why I Bought Alphabet (GOOGL) at $198
Strong Technical Setup on the Monthly Chart 📊
The monthly chart reveals a solid technical foundation that made Alphabet (GOOGL) a compelling buy at $198. A rising ascending trendline, formed by higher lows since the $64.80 mark, shows consistent growth. This steady upward momentum confirms long-term investor confidence in the stock.
The price recently broke above a key resistance level of $181.43, turning it into a strong support. This breakout signals bullish strength and paves the way for further upside. At $198, GOOGL remains well-positioned within an upward channel, nearing but not exceeding the $202.29 peak.
The Parabolic SAR dots are below the candlesticks, indicating sustained upward momentum. Combined with the MACD’s bullish crossover (DIF line well above the DEA line), the technical signals align perfectly with my decision.
Fundamental Backing: America’s Strength 🌍
Beyond technicals, Alphabet benefits from reduced regulatory risks globally. America’s stronger geopolitical influence has created a more favorable environment for U.S.-based tech giants. The fear of hefty fines from other nations has diminished, as stricter international regulations face delays or scaling back.
Alphabet’s dominance in advertising, AI, and cloud computing remains unmatched. These strengths, coupled with a supportive macroeconomic backdrop, give me confidence in its ability to deliver sustained earnings growth.
Price Timing
At $198, GOOGL offers a great risk-to-reward ratio. Its recent retracement from $202.29 provided an ideal entry point near support levels, allowing me to capitalize on its continued recovery without chasing the highs.
Conclusion
By blending technical analysis with macro insights, I seized the opportunity to invest in Alphabet at $198. The strong uptrend on the monthly chart and America’s support for its tech champions make this a calculated move. I’m excited to see how GOOGL performs in the coming months. $Alphabet(GOOGL)$
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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