Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, it

Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, its stock is trading at around $149.03 a share and is rather flat on the day after jumping to just over 1% at the NYSE open. Based on the daily interval outlook, we can see the supportive trendline drawn on the chart dates back to the October 2023 lows. The price along the trendline reads around $146 and could determine the near-term direction for the stock and its investors, especially with US CPI data due for release tomorrow. A break below this level could intensify the selling pressure forcing the price towards the March low of $130.53. The current price level as well as $146 (if the stock was to test this level) arguably creates a good opportunity for long-term investors. Therefore, any falls below here would only provide more of an incentive with anyone looking at investments for the next 12-18 months. Towards the upside, the first resistance point is around $154.30 followed by the area of $160-$168. Looking at the technical indicators, it appears that a possible bullish divergence is forming on the MACD as the price has made a lower low but the indicator is positioned higher. However, this is yet to be confirmed. Additionally, the RSI is suggesting the stock is oversold and back to reading 27. The last time the RSI was at a similar level was back in August where the stock bounced 6-7%.     Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, its stock is trading at around $149.03 a share and is rather flat on the day after jumping to just over 1% at the NYSE open. Based on the daily interval outlook, we can see the supportive trendline drawn on the chart dates back to the October 2023 lows. The price along the trendline reads around $146 and could determine the near-term direction for the stock and its investors, especially with US CPI data due for release tomorrow. A break below this level could intensify the selling pressure forcing the price towards the March low of $130.53. The current price level as well as $146 (if the stock was to test this level) arguably creates a good opportunity for long-term investors. Therefore, any falls below here would only provide more of an incentive with anyone looking at investments for the next 12-18 months. Towards the upside, the first resistance point is around $154.30 followed by the area of $160-$168. Looking at the technical indicators, it appears that a possible bullish divergence is forming on the MACD as the price has made a lower low but the indicator is positioned higher. However, this is yet to be confirmed. Additionally, the RSI is suggesting the stock is oversold and back to reading 27. The last time the RSI was at a similar level was back in August where the stock bounced 6-7%.     

Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, its stock is trading at around $149.03 a share and is rather flat on the day after jumping to just over 1% at the NYSE open. Based on the daily interval outlook, we can see the supportive trendline drawn on the chart dates back to the October 2023 lows. The price along the trendline reads around $146 and could determine the near-term direction for the stock and its investors, especially with US CPI data due for release tomorrow. A break below this level could intensify the selling pressure forcing the price towards the March low of $130.53. The current price level as well as $146 (if the stock was to test this level) arguably creates a good opportunity for long-term investors. Therefore, any falls below here would only provide more of an incentive with anyone looking at investments for the next 12-18 months. Towards the upside, the first resistance point is around $154.30 followed by the area of $160-$168. Looking at the technical indicators, it appears that a possible bullish divergence is forming on the MACD as the price has made a lower low but the indicator is positioned higher. However, this is yet to be confirmed. Additionally, the RSI is suggesting the stock is oversold and back to reading 27. The last time the RSI was at a similar level was back in August where the stock bounced 6-7%.     Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, its stock is trading at around $149.03 a share and is rather flat on the day after jumping to just over 1% at the NYSE open. Based on the daily interval outlook, we can see the supportive trendline drawn on the chart dates back to the October 2023 lows. The price along the trendline reads around $146 and could determine the near-term direction for the stock and its investors, especially with US CPI data due for release tomorrow. A break below this level could intensify the selling pressure forcing the price towards the March low of $130.53. The current price level as well as $146 (if the stock was to test this level) arguably creates a good opportunity for long-term investors. Therefore, any falls below here would only provide more of an incentive with anyone looking at investments for the next 12-18 months. Towards the upside, the first resistance point is around $154.30 followed by the area of $160-$168. Looking at the technical indicators, it appears that a possible bullish divergence is forming on the MACD as the price has made a lower low but the indicator is positioned higher. However, this is yet to be confirmed. Additionally, the RSI is suggesting the stock is oversold and back to reading 27. The last time the RSI was at a similar level was back in August where the stock bounced 6-7%.     

Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, its stock is trading at around $149.03 a share and is rather flat on the day after jumping to just over 1% at the NYSE open. Based on the daily interval outlook, we can see the supportive trendline drawn on the chart dates back to the October 2023 lows. The price along the trendline reads around $146 and could determine the near-term direction for the stock and its investors, especially with US CPI data due for release tomorrow. A break below this level could intensify the selling pressure forcing the price towards the March low of $130.53. The current price level as well as $146 (if the stock was to test this level) arguably creates a good opportunity for long-term investors. Therefore, any falls below here would only provide more of an incentive with anyone looking at investments for the next 12-18 months. Towards the upside, the first resistance point is around $154.30 followed by the area of $160-$168. Looking at the technical indicators, it appears that a possible bullish divergence is forming on the MACD as the price has made a lower low but the indicator is positioned higher. However, this is yet to be confirmed. Additionally, the RSI is suggesting the stock is oversold and back to reading 27. The last time the RSI was at a similar level was back in August where the stock bounced 6-7%.     Alphabet’s share price is now approaching another key support level as the negative sentiment with regard to antitrust issues and fines weighs on the stock. Currently, its stock is trading at around $149.03 a share and is rather flat on the day after jumping to just over 1% at the NYSE open. Based on the daily interval outlook, we can see the supportive trendline drawn on the chart dates back to the October 2023 lows. The price along the trendline reads around $146 and could determine the near-term direction for the stock and its investors, especially with US CPI data due for release tomorrow. A break below this level could intensify the selling pressure forcing the price towards the March low of $130.53. The current price level as well as $146 (if the stock was to test this level) arguably creates a good opportunity for long-term investors. Therefore, any falls below here would only provide more of an incentive with anyone looking at investments for the next 12-18 months. Towards the upside, the first resistance point is around $154.30 followed by the area of $160-$168. Looking at the technical indicators, it appears that a possible bullish divergence is forming on the MACD as the price has made a lower low but the indicator is positioned higher. However, this is yet to be confirmed. Additionally, the RSI is suggesting the stock is oversold and back to reading 27. The last time the RSI was at a similar level was back in August where the stock bounced 6-7%.