U.S. stocks hit record highs last week as the fragile truce in the Middle East brought the much-needed succor for investors. Specifically, Alphabet (GOOG) (GOOGL) stock, which briefly fell below $300 levels in March, is now approaching its all-time highs.
In my previous article, I had noted that Alphabet’s risk-reward looked a lot more balanced after the correction, even though it hadn’t entered a compelling buy zone given the macro situation. However, the rise in GOOG stock has been swift, as the tentative de-escalation in the Iran war has buoyed sentiment and lifted broader markets.
