Momentum Drives GOOGL to New Highs

Today I’m going to show you one of my favorite indicators and how I used it to find today’s fresh stock pic April 2nd, 2024 Momentum Drives GOOGL to New Highs Today I’m going to show you one of my favorite indicators and how I used it to find today’s fresh stock pick. Today we are going to be analyzing the Moving Average Convergence/ Divergence (MACD) chart for Alphabet Inc. (GOOGL). Alphabet has evolved from primarily being a search-engine provider to cloud computing, ad-based video and music streaming, autonomous vehicles, healthcare providers and others. In the online search arena, Google is a monopoly with more than 94% of the online search volume and market. MACD Indicator confirms Price Momentum The GOOGL daily price chart below shows that GOOGL is in a price uptrend as the 24/52 day MACD line (black line) is above the 18-Day EMA (purple line). The Moving Average Convergence/ Divergence chart is shown below the daily price chart. The 18-Day EMA line functions as a buy/sell ‘trigger’. When the 24/52 Day MACD line crosses above the 18-Day EMA line it indicates positive momentum and higher prices for the stock. Buy GOOGL Stock As long as the 24/52 Day MACD line remains above the 18-Day EMA, the stock is more likely to keep trading at new highs in the coming days and weeks. Since GOOGL’s bullish run is likely to continue, the stock should be purchased. Now, since GOOGL’s 24/52 Day MACD is trading above the 18-Day EMA this means the stock’s bullish rally will likely continue. Let’s use the Hughes Optioneering calculator to look at the potential returns for a GOOGL call option purchase. For this specific call option, the calculator analysis below reveals if GOOGL stock increases 5.0% at option expiration to 163.26 (circled), the call option would make 62.4% before commission. If GOOGL stock increases 10.0% at option expiration to 171.04 (circled), the call option would make 131.5% before commission and outperform the stock return more than 13 to 1*. The leverage provided by call options allows you to maximize potential returns on bullish stocks. The Hughes Optioneering Team is here to help you identify profit opportunities just like this one. Want more trade highlights like this one, except with actionable option trade recommendations? [Click here]( to check out my Weekly Optioneering Newsletter. Right now, the first month costs just $1, a fraction of the normal $39 monthly subscription fee. Interested in accessing the Optioneering Calculators? Join one of Chuck’s Trading Services for unlimited access! The Optioneering Team has option calculators for six different option strategies that allow you to calculate the profit potential for an option trade before you take the trade. Short-Term Program from Chuck! Chuck Hughes has just launched his exciting new trading service program, Lightning Trade Alerts. This new service focuses on low-cost & short-term options trade. Members will receive hand-picked options trades from the 10-Time Trading Champion, Chuck Hughes. Call our team at 1-866-661-5664 or 1-310-647-5664 to join or [CLICK HERE]( to schedule a call! Wishing You the Best in Investing Success, Chuck Hughes Editor, Trade of the Day Have any questions? Email us at [dailytrade@chuckstod.com]( *Trading incurs risk and some people lose money trading. --------------------------------------------------------------- See Related Articles [MSFT Poised for Next Bullish Breakout?]( [Target Zeroed in on New Highs]( [IBP Stock on Fire: How to Play it?]( --------------------------------------------------------------- [TradeWins Logo]( © 2024 Tradewins Publishing. 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