A postearnings skid sent the Google parent’s shares sliding into bearish territory, but some trading signals hint at a turnaround.
Alphabet’s stock just triggered a ‘death cross.’ Could the worst of the selloff be over?
In short
Alphabet's shares have entered bearish territory after a post-earnings decline triggered a technical "death cross" pattern. The drop highlights the significant selling pressure confronting the Google parent company following its recent financial results. Despite this prolonged slide, select market indicators now suggest the worst of the selloff could be passing, offering prospects of a rebound.
Key points
- Technical indicators reveal that Alphabet has entered bearish territory following its pos…: Technical indicators reveal that Alphabet has entered bearish territory following its post-earnings retreat.
- Prolonged selling pressure emerged directly after the release of the company's financial…: Prolonged selling pressure emerged directly after the release of the company's financial figures.
- Emerging market signals indicate that the worst of the recent stock selloff might be over.: Emerging market signals indicate that the worst of the recent stock selloff might be over.