Shares of Alphabet Inc. (NASDAQ:GOOGL) have been trending higher, where a trend line of support has formed. If the stock falls through this level, a breakdown could occur. Read more to learn how to take advantage of this trading opportunity.Alphabet Inc. (GOOGL) is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Its other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue.
GOOGL reported strong second quarter results due to solid momentum across its search, advertising, cloud and YouTube businesses. The company is benefiting from an increasing number of consumer online activities and rising advertiser spending. Its cloud division continues to be a key growth driver.
The company has a whopping $135.9 billion in cash as of the end of the most recent quarter, which greatly outweighs its long-term debt of $25.9 billion. This has led to a Quality Grade of B in our POWR Ratings system.