Google Inc. (GOOGL) Earnings Preview

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Google Inc. (GOOGL) provides its products and services in more than 100 languages and more than 50 countries, regions and territories offering a range of products across screens and devices. The stock is currently trading around $590.07 at the upper end of its 52 week range of $490.91-$608.91. The stock has been outperforming the market this year rallying 11.05% year to date. GOOGL is scheduled to report earnings after the closing bell today, and the stock is bullish today rising by $6.11 or 1.05% on the session ahead of the close.

Over the past 5 quarters GOOGL has rallied on earnings day 3 times with an average move of 3.24%. The stock appears to show no real trend on a chart going into the release having traded between the 535 support and 585 resistance for the past 4 months until the stock ripped to the upside reaching 590 in the past week on the daily bars. Over the past 5 quarters GOOGL has rallied from earnings to the nearest options expiration 3 times with an average move of 3.24%. The stock looks as if it could continue today’s trend and gain momentum in today’s session. Investors are looking to see whether the company has been able to win over more mobile traffic or not. The company also faces decelerating revenue and is looking for ways to curb their expenses.

The options market is currently implying a move of around $20.95 or 3.6% in GOOGL by this Friday’s close giving us targets of $569.12 and $611.02.

Andrew Keene

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