Earnings season once again, let’s watch Google

On the eve of last quarter’s earnings season (on January 26th, 2022) I wrote a newsletter citing Alphabet (Google’s) earnings as being important and setting the course for technology stock price action.

https://mailchi.mp/karriasset/googles-earnings-will-set-the-course

The charts contained within that newsletter featured some support lines that some of the FAANGM stocks were still holding above.

Google has now broken below that support line as has Microsoft, while Apple remains barely above its.

My previous quips have mentioned the weighted importance that these stocks have in the Nasdaq 100 and S&P 500. The recent pullback of these goliaths (following their dead cat bounce) explains the 7% decline in the Nasdaq 100 over the past 3 weeks.

Alphabet (Google) reports earnings April 26th.

Apple reports on April 28th.

There is good probability that these stocks fall further, much like other high-flyers have and some of their FAANGM brethren.

April 20, 2022

by Rob Zdravevski

rob@karriasset.com.au