Monday, May 20, 2019 12:12:15 PM
This morning, the big news was that many leading tech companies would no longer support the Chinese mobile supplier, Huawei Technologies. Alphabet Inc (GOOGL) announced that they are suspending business with Huawei, they will no longer support its Android phone platform. This news has sent GOOGL stock lower by $22.64 (-1.90%) to $1145.98 a share. It should be noted that GOOGL stock has been weak since April 30, 2019 after they reported disappointing earnings. Recently, GOOGL shares were defended on May 15, 2019 at $1121.40 a share. In that trading session the shares surged higher by nearly $57.00, but have been pulling back since that day. Should the recent low in GOOGL ($1121.40) fail to hold as support it would send a major sell signal to the stock. The next major support level will be around the $1045.00 area for the stock. As of now, the stock is still holding firmly above that key level, but it is worth keeping on the radar.
Nicholas Santiago
InTheMoneyStocks
Recent GOOGL News
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Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM
Kona Gold Beverages, Inc. Acquires Surge Distribution LLC from Loud Beverage Group, Inc. (LBEV) • KGKG • Apr 16, 2024 8:30 AM
Branded Legacy, Inc. Reports Significant Net Income of Over $3.8 Million • BLEG • Apr 16, 2024 8:30 AM
