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Alphabet Inc. (GOOGL) “On a long-term technical basis, the stock (GOOGL) is trading above its 200-day moving average, but has broken through an important support level, which implies it is in a neutral trend.
The stock has support at 1209.39 and 1148.66. If the stock breaks down through support at 1209.39 then it will probably continue lower to 1148.66. The stock has resistance at 1253.56 and 1338.78. If the stock breaks up through resistance at 1253.56 then it will probably continue higher to 1338.78. The 200-day moving average is at 1148.66. This will also act as support. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time for the stock, so be careful. Use caution during times like these, as the stock will be more volatile. Pay close attention to the Short-Term and Daily Opinion. The stock is extremely overbought according to the Stochastic Indicator (84.84), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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