Down almost 4% on the day as Gemini challenges create concerns for the near term

Alphabet shares are down almost 4% on the day as the Gemini challenges create concerns. Its shares are now trading at around $138.54 a share. Looking towards the downside on the daily chart, the support here now reads $136.55 (upper white trendline). A break below this support would then shift the focus to $135.05, whereas a break below $135.05 would highly increase the likelihood of a potential retracement towards $130 a share. A pullback towards $130 a share would be a 6.2% fall from current levels. It would be unreliable to point out any resistance areas as the short-term bias has now turned bearish, however, consolidation around the support of $136.66 would create an opportunity for a small bounce higher. The technical indicators are now clearly bearish on the daily chart, with the MACD volume expanding the RSI also in the negative zone. Reading 40.