Google Stock PAUSING hiring. Outlook on FAANG.

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What is up you guys peter carlo here traders helping traders helping you grow your portfolio one trade at a time today google just released that they will be pausing their hiring process for two weeks after saying that last week they were going to just slow the pace of hiring for the rest of the year with apple coming out saying the same thing not that they were

Going to pause but they’re going to slow down their hiring and slow down their expenditures going into 2023 we have seen two of the major six tech companies the major companies that run the market saying that they are going to be slowing hiring and or pausing hiring which is not a good sign and at 12 46 as soon as that happened we saw um google go ahead and drop we

Saw the s p 500 drop from those highs that we were at today up around three nine nine seven and we ended up dropping all the way down to about lows of 3938 and what i want to do in this video is go over this and kind of where this could impact the economy because if you guys remember yesterday in the video when we talked about i believe it was yesterday the day

Before we talked about apple we were saying that even though we have high inflation we’re in a high inflationary period the fact that jobs have been so strong is something that really really helps now we have seen some companies go through earnings so far the big one being netflix yesterday which actually did better than expected only lost one million subs said

Two point there’s 2.2 or 2.7 beat the top line missed on the bottom line but across the board not the best earnings now today we do have tesla i don’t know when this video is going to come out but we’re going to do a video on tesla itself after earnings and tesla’s going to be another one of those companies where we have to see how their earnings go so there

Are a lot of things our earnings setting up that could really cause the market to continue to uh drop or run we have housing or mortgage applications we’re going to talk about in a different video on my other channel peter de carlo investing the link will be in the description and we also have companies slowing their hiring and it’s a huge problem i also want to

Go over google and the technical setup as well as apple and the technical setup as well because i took a put position on apple so hit the like button subscribe check out our discord community down below it’s completely free you guys get access to free courses free live streams free seminars free webinars tons of free trades this week alone in the one free trade

That ended up calling out on the group we ended up making nearly five hundred on xop this is a trade you can see 470 profit if you do want to upgrade you can become part of our premium chat and our premium side where you get access to all of my trades today alone we have closed out a solid amount i ended up closing out snapchat for a 950 profit bx for a 720 profit

Rng yesterday for a thousand dollar profit upstart for a 550 profit so we’ve been doing really well that link is going to be in the description or you can go to the free chat and then go to the upgrade section and upgrade from there so let’s just take a look at quick technical analysis on google first so looking at google yes we were looking pretty good as we were

Bouncing off of this support down here at 109 starting to run our way back up now it looks like depending upon how earnings go coming up on the 26th that we potentially could see this movement upwards to about 120 slash 121 dollars on google but if we look at the bigger time frame for google you can see we have a massive bear flag so we had this big drop we have

This consolidation here running up to potential resistances of 120 slash 121 macd did cross but i’m more concerned with price action which is not looking as good on the bigger time frames than i am on lagging indicators and it’s looking like we could push up to 117 120 potentially reject and then drive our way down to ninety dollars on google which i think is a

Solid support because it’s where the 200 sma is and it’s also where this big chunk of volume is on the volume profile and let’s go through and take a look at apple i want to go through all the fang in this video apple like we’ve been saying before in the past couple of weeks could run its way up to 160 which were pretty damn close but we have an overall head and

Shoulders pattern here on apple on the weekly chart massive shoulder massive head massive shoulder looking like we could get rejected up around the 156 to 160 range drive our way back down to 135 potentially down to 101 dollars within the next six to 12 months going through on the smaller time frame too which i did take a bearish position on apple we have a rising

Wedge but that’s only if you’re like a quick trader and you want to get in for like a trade for the next couple of days it does look like we could top out and potentially reject let’s go through and take a look at netflix netflix is actually looking decently solid here so nice run up five percent there is a bit of a resistance but there is a potential gap to fill

And looking like we see netflix around to 253 and 277 bucks now going through and taking a look at microsoft and meta which will be the last two that we have here you can see that we do have these lower highs that are making their way into this support and we also have this inverted head and shoulders forming here which we have a big squeeze i think that’s going to

Start happening it’s really janky inverted head and shoulders but it is one and we have really tight squeezing that you can see the ttm is firing today if we hold within this range to our earnings we could see that squeeze release to either side and the final one is meta meta has earnings coming up really good run past four days in a row up 16 in total but across

The board same situation with a lot of these other stocks meta actually looks like we could see a bigger move to the upside if we can actually get through that resistance point of 192. we have a big descending wedge with a big bullish divergence and meta has been beaten up much more than a lot of these other companies like google like apple so meta actually looks

Like we could see a push up maybe to 240 but if the whole market slides technical analysis doesn’t really matter and now the point in this video is just to bring up the fact that we have seen two of these major companies say that they are pausing and slowing hiring so if we were to have inflation to continue to run rampant we were to see more and more companies

Paul’s and slower hiring that is a recipe for disaster for the economy i’m not spreading flood i’m not telling you to worry i have a lot of bullish positions if you actually go through and look at all the positions that i have closed in the past couple of days they’ve been bullish positions bullish position on apple bullish on bx bullish on rng bullish on upstart

We can go back up and see before bullish on zuo uh bullish on shopify bullish on xop bullish on upstart again bullish on that’s bearish bear tesla bear tesla bear tesla bullish on draftkings there’s a lot of companies i’m bullish on short term but i do want to bring up and i feel it would be a disservice of mine to come on here and not bring up the fact that these

Bigger time frames really are not looking solid um specifically on fang so i’ll come back we’ll do another video uh today as tesla goes into earnings in the next two hours hopefully they can push through hopefully they can beat earnings if we see tesla run it’s going to bring the rest of the market with it which if you’re a bull is a very good sign and if not then

We might see tesla back down at 650 653 hope you guys have a good day i’ll see you later peace

Transcribed from video
Google Stock PAUSING hiring. Outlook on FAANG. By Traders Helping Traders – Peter DiCarlo