Five Star Stock Watch: Google Earnings On Deck!
A lot of the heavy hitting tech stocks have released their earnings reports over the last week, including Apple, eBay and Facebook.
Next up, we have Google after the bell Thursday.
The postive reaction to Facebook's earnings last night seems to be having a positive impact on Google's stock.
So, what should you be watching from the stock tonight?
Company: Google, Inc.
Ticker Symbol: (NASDAQ: GOOG)
Industry: Internet Information Providers
Google Inc., a technology company, builds products and provides services to organize the information and make it universally accessible and useful. It provides Search, a service that delivers relevant search results in response to user queries; Product Listing Ads that offer product information; Search plus Your World; Google Now, a predictive search feature; and Google Knowledge Graph, which enhances Search service
In addition, it provides Google Mobile that extends its products and services to mobile device users; Google Local, which provides local information; Android, an open source mobile software platform; Google Chrome OS, an open source operating system; Google Chrome, a Web browser; Google+ for sharing various things online with different people; Google Play, a cloud-based digital entertainment destination; Google Drive, a place for users to create, share, collaborate, and keep their stuff; and Google Wallet, a virtual wallet for in-store contactless payment.
Please take a look at the nine-month chart of Google below with added notations:
After Google's previous earnings release in October, the stock jumped over 100 points. The stock then embarked on a nice, steady uptrend over the following months while creating a clearly defined trendline of support.
Unfortunately, Google broke its trendline support last week and fell below 1100 before stablizing. To show that the trendline break was just a temporary setback traders would want to see Google jump back above its trendline. Otherwise, a breach of last week's low would most likely lead to lower prices.
Google is set to release its earnings after the bell today.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
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