Last Updated on September 1, 2024 by Mathew Diekhake
The Nasdaq and S&P500 look like they are about to go on a small run, perhaps until 2023, before coming back down again. Google stock also is set up for a similar bounce.
We can see that Google stock has reached the top trendline twice, meaning the change of behavior could now be about to breach that trendline.
I haven’t been in Google stock lately. Every time it dips I forget how loved the stock is. It reminds me of my experience with Enphase — a stock I knew was good but just didn’t ever buy in when I should have. I’ll probably sit out of this bounce again because there isn’t enough upside to warrant the gamble. Nevertheless, the technicals suggest Google stock will rise before it falls.
Google has a P/E ratio of 19.65 and a forward P/E of 18.09. Google’s short float is 0.63%.