GOOGL: Price Breaks Above Short Term Resistance Line, Eye's $400
Alphabet stock (NASDAQ: GOOGL) is rebounding alongside a broader tech sector rally, trading near $375-$378 per share. Investor sentiment is recovery from post earnings jitters over high AI spending as major financial firms defend the company's massive capital expenditure plans.
Technical Insights:
Google is positioned on bearish channel momentum, trending partially on lower lows and lower highs, for a couple of weeks now. Recently, the stock broke above the lower resistance line, at $366, in respect to the structure. Meanwhile, we anticipate a buy continuation , after retest.
Key Outline:
More reverse confirmation, at this points, would activate a buy position to $400, as next potential bullish.
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