(MENAFN- Daily Forex) Long Trade Idea

Enter your long position between $248.59 (Friday's intra-day low) and $257.58 (the intra-day high of its last bearish candlestick).Market Index Analysis

• Alphabet (GOOG) is a member of the NASDAQ 100, the S&P 100, and the S&P 500 indices.
• All three indices remain close to all-time highs with bearish cracks rising.
• The Bull Bear Power Indicator of the NASDAQ 100 is bearish with a descending trendline.

Market Sentiment Analysis

Equity markets had a wild few sessions, but futures suggest a positive open at the time of this writing. Investors hope a slew of blockbuster earnings reports will keep the AI-driven bull market alive. Markets will also receive fresh inflation data, which they hope will confirm more interest rate cuts. Volatility eased on Friday after President Trump noted that high tariffs on China are unsustainable. Gold and silver are pushing to new record highs, which usually occur during recessions and bear markets. In the meantime, the US government remains shut down Fundamental Analysis

Alphabet is a technology conglomerate holding company, the largest technology company by profit and the third largest by revenue globally. It is a hyper-scaler in the AI sector and a significant player in driverless technology with its Waymo brand.

So, why am I bullish on GOOG, despite its nearly 80% rally since April?

Alphabet has exceptional operational statistics that lead its industry, and I expect its next earnings release, slated for October 29th, 2025, to reassure investors and rally its share price to fresh 52-week highs. Its most recent announcement, considering Waymo's plans to launch a driverless ride-hailing service in London, creates massive future revenue potential. Its scale and data make me equally optimistic about its ability to monetise its AI investments.

Alphabet Fundamental Analysis Snapshot

The price-to-earnings (P/E) ratio of 27.03 makes GOOG an inexpensive stock. By comparison, the P/E ratio for the NASDAQ 100 index is 38.08.

The average analyst price target for GOOG is $246.09. This suggests there is no upside potential, but I expect upward revisions to follow its earnings release, as risks for an AI stock are reasonable Technical Analysis

Today's GOOG Signal

Alphabet Price Chart

• The GOOG D1 chart shows price action inside a bullish price channel.
• It also shows price action between its ascending 0.0% and 38.2% Fibonacci Retracement Fan levels.
• The Bull Bear Power Indicator is bullish with an ascending trendline.
• The average bullish trading volumes are higher than the bearish trading volumes.
• GOOG advanced with the S&P 500 index, a significant bullish confirmation.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money My Call on Alphabet

I am taking a long position in GOOG between $248.59 and $257.58. GOOG trades at low valuations, especially for an AI play, and I am optimistic about its upcoming earnings release. It has grown earnings per share by over 25% in the last year, and the recent Waymo news is encouraging.

• GOOG Entry Level: Between $248.59 and $257.58
• GOOG Take Profit: Between $283.34 and $291.84
• GOOG Stop Loss: Between $233.73 and $241.65
• Risk/Reward Ratio: 2.34

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