Google (GOOG) : Traders are bullish on Google (GOOG) as it has outperformed the S&P 500 by a margin of 3.04% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.55%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.18% in the last 1 week, and is up 10% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Google (NASDAQ:GOOG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $741.86 and $736.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $743.24. The buying momentum continued till the end and the stock did not give up its gains. It closed at $742.74, notching a gain of 0.56% for the day. The total traded volume was 1,259,823 . The stock had closed at $738.63 on the previous day.
The stock has recorded a 20-day Moving Average of 5.07% and the 50-Day Moving Average is 4.32%. Alphabet Inc. is up 3.33% in the last 3-month period. Year-to-Date the stock performance stands at -2.13%.
Alphabet Inc (Alphabet) is a collection of Companies. The Companys collection include Calico, Googles health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X. These will be managed separately in Alphabet. On October 2, 2015, Google implemented a holding company reorganization pursuant to the Agreement and Plan of Merger (the Merger Agreement), dated as of October 2, 2015, among Google, Alphabet and Maple Technologies Inc., a Delaware corporation (Merger Sub), which resulted in Alphabet owning all of the outstanding capital stock of Google. Pursuant to the Alphabet Merger, Merger Sub, a direct, wholly owned subsidiary of Alphabet and an indirect, wholly owned subsidiary of Google, merged with and into Google, with Google surviving as a direct, wholly owned subsidiary of Alphabet.