GOOGLE SHORT TRADE OUTLOOK ON EARNINGS REPORT DAY OCT.29, 2024
GOOGL WEEKLY FUNDAMENTAL ANALYSIS:
>P/E Ratio (Quarterly Lookback): Google's P/E is currently at around 25, signaling overvaluation (typically anything equal or above 25 is considered overvalued).
>Correlation: Both Google's P/E ratio and value compared to Treasury bonds are flashing overvalued signals.
DAILY OUTLOOK:
>Short-term and long-term value correlations vs T-bonds and P/E ratios suggest the stock may remain overbought until the upcoming earnings report, which could act as a catalyst.
>Election Year Seasonality is strongly bearish as well.
TECHNICAL INSIGHT:
>GOOG may pull back to fill a previous price gaps before slowing down.
Stay sharp, traders! 🎯 #GOOG #ShortTrade #MarketAnalysis #Investing
Disclaimer: This post is for informational and educational purposes only and should not be considered financial advice. It reflects general market fundamentals and personal speculation. Always do your own research and consult with a professional before making any financial decisions. Trade at your own risk.
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