Alphabet Stock: What the Charts Say Ahead of 20-for-1 Stock Split

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Alphabet stock will undergo a 20-for-1 stock split on July 18. Here's how to trade the stock into the event.

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Rajendra Choudhary
Rajendra Choudharyhttps://livetimesnews.com
Rajendra Choudhary is The Founder & CEO of Live Times Media Pvt. Since 2019 He Started his Digital Journey and Built a Victory in The Media and Education Industry with over 5 Websites and Blogs.

Alphabet (GOOGL) – Alphabet Imports Inc. The stock is down about 1% at its last confirmation and has been down every day this week. The same happens when the company’s 20:1 share split takes effect Monday, July 18.

Amazon (AMZN) – Get Alphabet, like Amazon.com Inc., will become the second notable FAANG component through this year’s stock split. The report started last month.

Although a stock split does not change business value, statistics suggest that it can act as a catalyst for stock prices over the next 12 months.

So far this year, we have done well before bifurcation but have done poorly after. He goes to Amazon and Shopify (SHOP). – Shopify Inc. Class A subreport. This is a classic “buy rumor and sell news” price action.

Trading Alphabet Stock Ahead of Stock Split

Daily chart of Alphabet stock.
Chart courtesy of TrendSpider.com

Alphabet shares found support at $2,500 during the first quarter. Shares hit an all-time high near $3,031 in February after Mountain View, CA reported strong earnings and announced a 20:1 stock split.

After failing to support the $2,500 support, the stock didn’t bottom out until reaching $2,038 in May. It is forming just above the 50% retracement level from the all-time high to the 2020 low.

Alphabet stock has since climbed above support (the blue line) but is struggling to find $2,375 as resistance.

While it’s not unusual for stocks to bounce before the event, we saw Alphabet’s stock soar last week, but the stock lost nearly all of its recent momentum.

Bull here should hold between this month’s low and last month’s low of $2,100 to $2,115. There is a monthly drawdown out of this area, which in 2022 could lead to a decline around $2,038.

It is clearly open below $2000 ($100 after the split).

If Alphabet stock falls (which could happen with a broader market descent), the $1,780-$1,800 zone becomes available ($89-$90 after the split).

There we find a 61.8% retracement and a 200-week moving average.

Note: Apple (AAPL) and Apple Inc . Microsoft Get Reports (MSFT) – Microsoft Corporation Get Reports Alphabet is one of the strongest names in technology so far this year. So, if the bulls can push out further, they can tie a strong rally together.

Specifically, a move above $2,270 lifts the alphabet above the 10, 21, and 50-day moving averages.

This opens the door for $2,375, then $2,500. or $113.50, $118.75, $125, respectively, after division.

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