The price rose 17%. The momentum did not.
Alphabet is showing the same weakness as the rest of the big names in artificial intelligence.
It made a higher high in May with less force behind it — a weekly bearish divergence — and here it has already passed through to the price: the stock sits 17% below that high.
The decision
We are not getting in yet. The business is not in question, but the three big AI names topped out within weeks of each other, and that is how the big rotations start.
We would rather let the correction finish and look at an entry from there.
Read the full thesisSourceYahoo Finance (GOOGL, weekly closes)Data to
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