Potential Price Increase for Alphabet Inc (GOOG) After Recent Insider Activity

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In a filing, Alphabet Inc revealed its Director ARNOLD FRANCES unloaded Company’s shares for reported $35434.0 on Jan 30. In the deal valued at $154.06 per share,230 shares were sold. As a result of this transaction, ARNOLD FRANCES now holds 15,104 shares worth roughly $2.31 million.

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Then, Pichai Sundar sold 22,500 shares, generating $3,198,219 in total proceeds. Upon selling the shares at $142.14, the Chief Executive Officer now owns 2,400,191 shares.

Before that, HENNESSY JOHN L sold 2,400 shares. Alphabet Inc shares valued at $348,000 were divested by the Director at a price of $145.00 per share. As a result of the transaction, HENNESSY JOHN L now holds 7,964 shares, worth roughly $1.22 million.

Price Performance Review of GOOG

On Tuesday, Alphabet Inc [NASDAQ:GOOG] saw its stock fall -1.16% to $153.05. Over the last five days, the stock has gained 2.94%. Alphabet Inc shares have risen nearly 8.60% since the year began. Nevertheless, the stocks have risen 51.97% over the past one year. While a 52-week high of $155.20 was reached on 01/29/24, a 52-week low of $88.86 was recorded on 01/05/24. SMA at 50 days reached $140.55, while 200 days put it at $129.89. A total of 25.47 million shares were traded, compared to the trading of 20.91 million shares in the previous session.

Levels Of Support And Resistance For GOOG Stock

The 24-hour chart illustrates a support level at 152.20, which if violated will result in even more drops to 151.36. On the upside, there is a resistance level at 154.47. A further resistance level may holdings at 155.89. The Relative Strength Index (RSI) on the 14-day chart is 71.03, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.77, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.64%. Stochastics %K at 92.43% indicates the stock is a selling.

How much short interest is there in Alphabet Inc?

A steep rise in short interest was recorded in Alphabet Inc stocks on Jan 11, 2024, dropping by -3.81 million shares to a total of 37.69 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 41.5 million shares. There was a decline of -10.11%, which implies that there is a negative sentiment for the stock.

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