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Technical Analysis: Don’t Forget About Alphabet

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June 13, 2023

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Alphabet has been on the sidelines since a big rally in May. Is it time for traders to think about more upside?

The first pattern on today’s chart is last August’s peak around $122.43. GOOGL chopped on either side of the level for three weeks but has mostly stayed above it. Last Wednesday’s pullback brought prices back to the line and it’s stayed there since. Has old resistance become new support?

Second …

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Alphabet (GOOGL), *daily chart with selected patterns and indicators, courtesy of TradingView*.

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