Checking up on Google..... are we going to have another round of Dot Com burst again like that of 2001?

After I looked into Meta in Meta ..... there should be a moment of self awareness, it made me curious if something is happening in the Dot Com world. Since Google is kind of the leader in this arena, I asked, "why not just take a look into this counter?"

My first surprise was that Google is named Alphabet Inc. I thought all these while that it would use its original title since it is a name everybody knows. aparently it was renamed after restructuring in 2015. I was at the time spending much time trying hard to salvage my career. 

Looking back today, I feel that I was wasting my time as it is an up-hill battle to survive in a BIG organization especially when I am not into office politics which is a common phenomenon. Those at the top are so insecure about their position that they form inner circle and trying hard to outcast others. When this happens in an organization, it is ready to head down. Hmmm....I think I will do a read on my ex-company to see how true this is.

Mean while, back to Google, or Alphabet Inc.

Fig 1. Alphabet Inc (Google) Daily Chart

I have downloaded the daily chart instead of the weekly one. I was a mistake, but when I looked at the weekly chart, there is little difference in the measurement reference, s I am good with using the daily chart this round.

At first look, I am surprised to see that Google....or Alphabet, is at similar level as Meta, considering that its platform is adapted so many more people. In Singapore for instance, we call Google God, because it is all knowing. We will approach and ask God when we need clarification.

I am also surprised that it only peaked at USD151.55, as compared to Meta at USD384. As such it did not deprecate as much in percentage compares to Meta.

Nevertheless, it is on a down trend, with formation of double top or head and shoulder between July 2021 to April 2022. In addition, it retested the neckline and retreated. Based on the pattern of descent, there are 2 set ups that I can use to determine where it is likely to go.

I am expecting further decline due to the consistency of alignment of the moving averages.

Using the Fibonacci expansion for the double top formation, the 100% objective USD117.99 is reached. 

Using Fibonacci projection on the neckline retest level, coincidentally a zig zag formation, I see the next support level to be between USD80.52 to USD96.53.