The weakness on American techs continues in the wake of the Fed’s restrictive policies. These stocks also include Alphabet, which published its quarterly results last night, which have disappointed expectations. In fact, Alphabet closed the quarter with net profits of $16.4 billion, down to $24.62 per share against the expected $25.91. The turnover was $68.01 billion, up 23% but lower than the expected $68.11 billion. Alphabet subsidiary subsidiary YouTube’s focus in social media and video sharing was expected to increase advertising revenue by 23% to $7.4 billion. It earned only $6.87 billion, which was below expectations. As with Meta Platforms, the company has been impacted by recent restrictions on targeted advertising introduced by Apple.
Alphabet [GOOGL.O] is at $2,352.3 (+2.3%) in pre-trading, after losing 3.7% yesterday. This is a bad break for the stock that punctured an important support in the $2,500 area before resting around $2,400. The SHORT position proposed yesterday hit the target at $2,262. We prefer closing the sell as yesterday’s candle could generate a nice rebound towards $2,400 today. It will be possible to reactivate the SHORT on Alphabet at a break with strength and closing at $2,262 or on the pull back at $2,400 (the strength of the recovery, however, must be examined).
We recommend going SHORT on the stock by buying the Leverage Shares Alphabet -1X ETP (ISIN: IE00BKTW9N20) on a break in strength and closing at $2,262. Target should be $2,200 and and stop/loss should be at $2,550.
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Sandeep joined Leverage Shares in September 2020. He leads research on existing and new product lines, asset classes, and strategies, with special emphasis on analysis of recent events and developments.
Sandeep has longstanding experience with financial markets. Starting with a Chicago-based hedge fund as a financial engineer, his career has spanned a variety of domains and organizations over a course of 8 years – from Barclays Capital’s Prime Services Division to (most recently) Nasdaq’s Index Research Team.
Sandeep holds an M.S. in Finance as well as an MBA from Illinois Institute of Technology Chicago.
Violeta joined Leverage Shares in September 2022. She is responsible for conducting technical analysis, macro and equity research, providing valuable insights to help shape investment strategies for clients.
Prior to joining LS, Violeta worked at several high-profile investment firms in Australia, such as Tollhurst and Morgans Financial where she spent the past 12 years of her career.
Violeta is a certified market technician from the Australian Technical Analysts Association and holds a Post Graduate Diploma of Applied Finance and Investment from Kaplan Professional (FINSIA), Australia, where she was a lecturer for a number of years.
Julian joined Leverage Shares in 2018 as part of the company’s premier expansion in Eastern Europe. He is responsible for web content and raising brand awareness.
Julian has been academically involved with economics, psychology, sociology, European politics & linguistics. He has experience in business development and marketing through business ventures of his own.
For Julian, Leverage Shares is an innovator in the field of finance & fintech, and he always looks forward with excitement to share the next big news with investors in the UK & Europe.
Oktay joined Leverage Shares in late 2019. He is responsible for driving business growth by maintaining key relationships and developing sales activity across English-speaking markets.
He joined LS from UniCredit, where he was a corporate relationship manager for multinationals. His previous experience is in corporate finance and fund administration at firms like IBM Bulgaria and DeGiro / FundShare.
Oktay holds a BA in Finance & Accounting and a post-graduate certificate in Entrepreneurship from Babson College. He is also a CFA charterholder.
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