Google: Expect Deeper Pullbacks (Technical Analysis) (Rating Downgrade)
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Alphabet's recent earnings exceeded expectations with strong growth, particularly in the Google Cloud segment. Despite a low forward P/E ratio, a technical analysis suggests potential deeper pullbacks for the stock.
November 26, 2024 | 2:15 pm
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Alphabet's earnings surpassed expectations, driven by strong performance in Google Cloud. Despite a low forward P/E ratio, technical analysis indicates potential for deeper pullbacks.
Alphabet's strong earnings and growth in Google Cloud are positive, but the technical analysis downgrade suggests potential short-term price declines. The low P/E ratio makes it attractive, but the market may react to the technical signals.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100