Alphabet

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GOOGL stock shows accumulation from the lows of $100 in the past months.</a> </li> 
 <li> <span>2</span> <a>Buyers are regaining strength and are willing to retest $150.</a> </li> 
</ul> 
<p>Alphabet Inc. (NASDAQ: GOOGL) stock price is showing a reversal from the support of $100 and riding the gains in the past sessions. Moreover, the price action shows that the stock is gaining momentum and is gradually shifting the ride towards the round mark of $150. However, multiple resistance levels is ahead near $140, followed by $145, which acts as a barrier to the upcoming rise. Buyers are persisting in accumulating long positions to overtake the ongoing hurdles.</p> 
<p>From the start of 2023, GOOGL stock has shown a trend reversal and registered a double bottom pattern. Afterwards, the stock does not look back towards the lows and continues to rise.</p> 
<p>At the moment, GOOGL stock price is trading above the key moving averages and trading near the upper trendline of the rising wedge pattern. If the price escapes the channel highs, it will lead to a breakout toward $150. On the other hand, if the stock price heads to fill the recent gap, then it will show the retracement toward the 20-day EMA near $125.</p> 
<p>Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google generates 99% of Alphabet’s revenue, of which more than 85% is from online ads. Google’s other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue. Sales of hardware such as Chromebooks, the Pixel smartphone, and smart home products, which include Nest and Google Home, also contribute to other revenue.</p> 
<p>Alphabet’s moonshot investments are in its bets on technology to enhance health (Verily), faster internet access to homes (Google Fiber), self-driving cars (Waymo), and more. Alphabet’s operating margin has been 25%-30%, with Google at 30% and other bets operating at a loss.</p> 
<p>At press time, Alphabet Inc. stock (GOOGL) is trading at $132.72 with an intraday gain of 0.11% showing neutral indications on the charts. However, the trading volume remained at 30.766 Million, and the market cap is $1.676 Trillion. Analysts maintained a strong buy and outperform rating with a yearly price target of $149.02.</p> 
<h2 class="wp-block-heading" id="strong-googl-stock-price-action-on-daily-charts-strong"><strong>GOOGL Stock Price Action on Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/v35KAl1h1G_V0mwYxkM140_TimB5DjpKLpIlQRl1LyAmbpQom6iCznytmXjAalm9Mf8cj68XppnLfNeQP8khLbSNV3kLIZ2H9GnnS6Fvl6tjuZTEM5DQNB2RqIu0617c656QRIlN45LGC9kR4JZn3GmY5YZn0PSryVItzzYwqNIGK6Cn17lE63QLqVnQtw" alt="Alphabet Inc. (GOOGL Stock) Shifting Gains, Will it Catch $150?"> 
  <figcaption class="wp-element-caption">
    Source: GOOGL Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts,<a href="https://www.thecoinrepublic.com/2023/07/26/alphabet-inc-googl-stock-price-at-130-up-7-04-in-pre-market/" target="_blank" rel="noopener noreferrer nofollow"> GOOGL stock price</a> formed a rising wedge pattern and traded near the upper trendline of $135. However, the battle is exciting as sellers try to break the voyage to throw it toward the support of $120. GOOGL stock price action suggests that if the price won’t lead to buying, it will follow the path to fill the gap.</p> 
<h2 class="wp-block-heading" id="strong-what-technical-indicator-says-strong"><strong>What Technical Indicator Says?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-1024x464.png" alt="Alphabet Inc. (GOOGL Stock) Shifting Gains, Will it Catch $150?" class="wp-image-155938" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-1536x696.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-5.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: GOOGL Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, GOOGL stock price held the gains on the top and waited for a breakout above the trendline of $135.&nbsp;</p> 
<p>The RSI curve stayed in the overbought zone and formed a positive divergence on the charts. Moreover, the parameters suggest a rise in the upcoming sessions.</p> 
<p>The MACD indicator initiated a bearish crossover and showed the end of the buying in the last session, which indicated the sellers’ arrival.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The price of Alphabet Inc. (GOOGL) persisted in the rise and surpassed the hurdles decisively from the past sessions. Moreover, the ongoing uptrend indicates that the rally’s upper trajectory exists near $150, which buyers were trying to catch.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $125</p> 
<p>Resistance Levels:$140 and $150</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Alphabet Inc. (GOOGL Stock) Shifting Gains, Will it Catch $150?

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