Nasdaq is on the move and Google is one of the most interesting listings on Nasdaq. Google is the global leader in the web-advertising industry and one of the most innovative large firms in the world. Google’s current P/E ratio at 25.6 may be considered as normal, given the high annual expected earnings growth, for the next five years (12% annual expected growth on average). As concerns Google share price, currently it is moving in a nice long-term bullish trend that we are going to investigate below. But first we are going to evaluate our previous signal on GBP/USD.
Previous Signal on GBP/USD
As concern our previous signal on the Forex pair GBP/USD, a bullish short trend was forecasted on GBP/USD which was trading by that time at 1.5473. After about 10 days GBP/USD is trading at 1.5510. It has given two uptrend moves, above 1.56 (1.5610 in May 1st and 1.5618 in May 3rd), but it seems that it hasn’t shown the power of demand that it was expected. The current technical outlook of GBP/USD may be considered now as neutral, and during next days it is expected to trade according to major fundamental developments and news.
Google {GOOG} at a glance
Here are Google’s Key Figures
GOOGLE PRICE |
FUNDAMENTALS |
||
Last Close: |
$ 857.23 |
Shares Outstanding |
331.77 Million |
52 Week High: |
$ 861.85 |
Market Value (capitalization) |
$ 284.4 Billion |
52 Week Low: |
$ 556.52 |
Earnings Per Share (EPS) |
$ 33.51 |
Beta |
0.97 |
P/E Ratio: |
25.58 |
Google Share Price Trend
The master trend for Google’s share is definitely bullish and strong. Before this bull rally ends we are going probably to see Google’s price to $900 or even $1,000. But given the beta ratio of 0.97, Google’s trading is in high correlation with the movement of the Nasdaq Index. Therefore, we should expect fluctuations according to the overall market trend, which currently is strong and bullish too.
Chart: Google’s Share Closing Prices (2004-20013) and TCI Long