Alphabet Stock Could Snap 9-Day Win Streak Before Earnings

Core Viewpoint - Alphabet Inc (NASDAQ: GOOGL) is set to announce its second-quarter results soon, with current trading showing a slight decline despite recent price-target increases from analysts [1]. Stock Performance - GOOGL shares are experiencing a potential end to a nine-day winning streak, having reached their highest level since February before reversing gains, with a year-over-year increase of 4.8% [2]. - The stock has shown resilience, bouncing off a support level at $170, guided by the 40-day moving average [2]. Earnings History - Historically, GOOGL has had a mixed performance following earnings reports, with four out of the last eight reports resulting in gains and four in losses, including a notable 10.2% increase after the April 2024 earnings [3]. - The average next-day price swing for GOOGL over the past two years has been 6.2%, while the current options market is anticipating a larger move of 8.3% [3]. Options Market Sentiment - Options traders are showing optimism ahead of the earnings announcement, with a call/put volume ratio of 3.29 at major exchanges, indicating a higher level of bullish sentiment compared to 75% of the past year's readings [4].