Alphabet Inc. GOOGL 0.00%↑ was our Top Pick of the Week on June 17th and here we are in October and GOOGL is back.
→ Same stock, new setup, and that’s exactly how I want it.
I don’t need to find a brand-new ticker every Wednesday just so I can say I found something new.
I’d rather follow the same group of high-quality companies, learn how their stocks behave, and wait for another setup.
And right now?
GOOGL is setting up again.
The broader market (SPY) is improving.
Communication Services (XLC) is turning.
GOOGL is attempting a breakout.
And underneath the chart, I still see a company I want exposure to with Search, YouTube, Cloud, AI, and one business I’m literally watching drive around Miami.
Waymo. ←
More on that in a minute because I counted 19 of them on one coffee trip to Wynwood last week.
Here’s the setup →
NIM Top Pick of the Week 👑
Ticker: GOOGL
Company: Alphabet Inc.
Sector: Communication Services XLC 0.00%↑
Industry: Internet
Why It’s on My Radar: GOOGL is attempting another breakout after spending months inside a larger trading range, while the broader market improves and the XLC begins to turn.
Valuation: Morningstar currently rates GOOGL four stars with a $433 fair-value estimate and a wide economic moat.
Dividend: Yes. GOOGL pays a small quarterly dividend.
Technical Setup: Price has closed above its 20-day SMA indicating a possibe breakout here while still trading inside its larger range, with an RSI reading of 53.
What I’m Watching: Whether GOOGL can clear the $360–$365 resistance area for stronger confirmation that it’s ready to leave the larger range behind.
Biggest Risk: A failed breakout, renewed weakness in the XLC, or deterioration in the broader market setup.
Growth Story: Search, YouTube, Cloud, and AI remain the core businesses, with Waymo giving GOOGL another potential long-term growth engine.
First, let’s start where every trade should start—with the Big Picture.
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The Big Picture: Market → Sector → Industry → Stock → Fundamental Analysis
You already know how I work.
Market first.
Then sector.
Then industry and stock.
Fundamental analysis.
I want as much working in my favor as possible before I take the trade and this week, the pieces are lining up.
1. The Market: The S&P 500 (SPY)
The S&P 500 SPY 0.00%↑ has closed above its 20-day simple moving average (SMA) and is pushing against the top of its current consolidation zone.
If the SPY can break through that zone, another move toward record-high territory comes into play.
For me, the takeaway is simple: The broader market is giving me a better backdrop for a long trade.
2. The Sector: Communication Services (XLC)
Here’s where it gets interesting.
→ Google may feel like a Technology stock, but GOOGL sits inside Communication Services sector XLC 0.00%↑ , which has been beaten down.
Now price has closed above the 5-day EMA while sitting in its accumulation area.
That gives me the sector confirmation I’ve been waiting for.
Technology XLK 0.00%↑ has already been running.
→ Communication Services?
I’m watching for what could move next.
GOOGL chart annotation →
3. The Stock: Alphabet Inc. (GOOGL)
Now we get to Alphabet Inc. GOOGL 0.00%↑ .
GOOGL has spent months trading in the same broad trading range we were watching back in June, with the 200-day SMA continuing to act as an important support area.
Now price has moved above the 20-day SMA. By my rules: The breakout is underway.
The RSI is around 53. Normally, once RSI has pushed into the 50s, I start asking whether I’m late, but look at the chart.
GOOGL is still inside the larger range it has been building for months. So I’m okay with the RSI here.
The next area I really want to see cleared? Roughly $360–$365. That isn’t my breakout trigger.
The move above its 20-day SMA gave me that, but clearing $360–$365 would give me stronger confirmation that GOOGL may finally be ready to leave this larger range behind.
→ The market is improving, the sector is turning, and the stock breaking out.
That’s the confluence I’m looking for.
In other words:
→ this is an amazing buy & hold opportunity to pick up shares of GOOGL, an undervalued / dividend-paying mega-cap Big Tech stock that sits in the Communication Services sector (XLC) to hold for the long-term, if not forever.
→ we can also position trade GOOGL back to true value and beyond and make massive gains.
→ we can take a 2x leveraged swing trade in GGLL for quicker price movements, cheaper share prices, smaller position sizes, and amplified gains (and, losses).
→ if you’re an experienced, astute trader, you can write option contracts on GOOGL and do what you do and make exponential gains.
4. Fundamental Analysis: Why GOOGL?
Now let’s get underneath the ticker.
→ GOOGL gives me exposure to businesses people use every single day:
Google Search. YouTube. Gmail. Google Cloud. Gemini, AI, and then there’s Waymo.
Morningstar currently gives GOOGL a four-star rating, a wide economic moat, and a $433 fair value estimate.
In their most recent research, Morningstar also said they believe the market is underestimating GOOGL’s full-stack AI opportunity and currently views the shares as undervalued.
That matters to me, but GOOGL doesn’t need one giant AI moonshot to make the thesis work.
→ Search, YouTube, Cloud, and AI already give me substantial businesses today.
Waymo gives me another potential growth engine for tomorrow and THAT is where this gets fun.
The Waymo Takeover 👀
Back in June when GOOGL was my Top Pick, I wrote about the potential Waymo takeover.
Four months later?
I’m seeing a hell of a lot more Waymos.
Last week, I drove to Wynwood to grab coffee and take some pictures of the street art and I started counting. One Waymo, then another, and another.
By the time I got home?
→ I had counted 19 Waymos driving around Miami. NINETEEN.
Three days later, I went back out and I counted seven more.
Now, Nurse Jess driving around Miami counting robot cars is obviously not institutional research, but what I’m seeing locally matches a much bigger story.
→ Waymo opened its fully autonomous ride service to the public in Miami earlier this year and Waymo says its autonomous vehicles have now accumulated hundreds of millions of fully autonomous miles.
Announced in April 2026, anyone in Miami and Orlando can download the Waymo App and immediately hail a fully autonomous, driverless ride.
The company has also reported substantially fewer injury-causing and serious-injury crashes than human-driver benchmarks across the areas included in its safety analysis.
Those are Waymo’s own comparisons, so I’m treating them accordingly, but the scale is getting harder to ignore and something else caught my attention.
Waymo and UBER are already working together.
→ In Austin and Atlanta, riders can be matched with fully autonomous Waymo vehicles through the Uber app.
So something I originally viewed as a possible future business model is already being tested in the real world:
Waymo brings the autonomous driving technology.
Uber Technologies, Inc. UBER 0.00%↑ brings the ride-hailing platform and fleet operations in those markets.
The question now isn’t whether that model can exist. It’s how far it can scale.
What About The Competition?
Waymo isn’t alone.
Tesla TSLA 0.00%↑ is pursuing robotaxis.
Amazon AMZN 0.00%↑ has Zoox.
Mobileye MBLY 0.00%↑ continues developing autonomous-driving technology and its own AV fleet.
There will be competition and I’m not declaring a winner while the race is still being run.
However, I will say this:
Waymo is the autonomous vehicle business I can currently watch driving around Miami without a human behind the wheel.
That’s hard to ignore and Waymo doesn’t have to carry my entire GOOGL thesis.
→ That’s what I like about this.
GOOGL already has enormous businesses producing revenue today and Waymo gives me another potential business for tomorrow.
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GOOGL or GGLL?
There are two different ways to approach this idea and they’re not the same trade.
GOOGL: GOOGL is Alphabet stock.
If I’m looking at GOOGL as a longer-term holding, this is the straightforward way to own the company and it also pays a small dividend.
GGLL: The Direxion Daily GOOGL Bull 2X ETF.
For a tactical trade, there’s also GGLL, which seeks 200% of GOOGL’s daily performance before fees and expense and daily matters.
The leverage works in both directions and because the fund resets daily, returns over longer periods can differ significantly from simply multiplying GOOGL’s return by two.
So I don’t look at GGLL as “cheaper Google.”
→ It’s a leveraged trading vehicle with more potential movement and more risk.
GOOGL for the actual ownership thesis.
GGLL for a tactical leveraged trade if you understand what you’re trading.
GOOGL Again? That’s The Lesson.
This might be my favorite part of this week’s Top Pick.
GOOGL was my Top Pick in June. Now it’s my Top Pick again.
Someone could look at that and say: “Didn’t we already trade GOOGL?”
Yep, and? 😂
→ The goal isn’t to collect tickers like Pokémon cards.
I’d rather have a core group of 10, 15, maybe 20 companies I understand deeply than bounce between 100 stocks I barely know because when you keep following the same stocks, you learn them.
You learn how they behave around the 200-day SMA.
You learn their accumulation zones.
You learn their breakouts.
You learn when they’re running.
And eventually, you recognize when they come back and give you another opportunity.
Three years from now, I don’t want GOOGL to feel like some random ticker that popped up on a screener.
I want to know how GOOGL trades.
→ That’s how you become a more astute market participant.
And sometimes? The next opportunity is a stock you already know.
The Bottom Line: My Trade Plan
Here’s my setup:
Market: SPY is attempting to break higher.
Sector: XLC has given me confirmation inside its accumulation setup.
Stock: GOOGL has moved above its 20-day SMA, putting the breakout underway by my rules.
RSI: Around 53. Higher than my ideal early entry, but acceptable to me while price remains inside the larger range.
Next confirmation: I want to see GOOGL clear roughly $360–$365.
Valuation: Morningstar currently rates GOOGL four stars with a $433 fair value estimate and a wide economic moat.
Long-term vehicle: GOOGL.
Leveraged tactical vehicle: GGLL, which targets 2X GOOGL’s daily performance and carries substantially greater risk.
GOOGL gave me a setup in June and now it’s giving me another one.
→ Same stock. New setup.
That’s why GOOGL is my Top Pick of the Week.
Following a systematic approach, reading market structure, and staying disciplined compounds over time.
Let me know what you’re watching and thank you so much for reading! 🙌
-Nurse Jess 🤝
Know the Big Picture. Focus on the Edge. 👑
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Financial Disclaimer: This is not financial advice. All trades carry risk. Biotech stocks are highly volatile and speculative. Always do your own due diligence and consult with a financial advisor before making investment decisions.