Power Plays New Idea: GOOGL
April 26, 2023
By Scott Redler
Needs to Hold: $97 to $102
Price Objective 1: N/A
Price Objective 2: N/A
We exited Google (GOOGL) ahead of yesterday's earnings report, but I want to add it back on as a Power Play.
The report was pretty solid and I think it can propel the stock to play some catch-up in the near term.
The chart is shaping up better and the big stock buyback could be a real help.
I'll chime in with a price objective later in the week.
But for now, as long as it stays above the $97 to $102 area, GOOGL seems to have real potential to outperform if the market stays strong.
Scott Redler Positions Disclosure as of 2023-04-26 at 10.08.02 AM