Alphabet Shares Fall 13% After Earnings as RSI Stands in Oversold Territory
Photo: TokenPost
Alphabet’s Class C shares fell 13.01% to $280.02 at 9:42 a.m. ET Thursday, extending a post-earnings selloff as the daily RSI stood in oversold territory. GOOG later traded at $281.63, down 12.51%, at 9:43:56 a.m. ET; the intraday low was $278.30. The daily relative strength index, or RSI, was 21.55, below the 30 level commonly used to mark oversold conditions. The reading reflects recent price momentum and does not establish a reversal. Alphabet’s third-quarter revenue rose 25% year over year to $127.577 billion, but diluted earnings per share declined to $2.12 from $2.87 a year earlier.
Source: TokenPost
