This year’s Google I/O developer conference doubled as a showcase for the company’s latest advances in Artificial Intelligence.
Investors welcomed both the upgrades to existing products and the unveiling of entirely new AI offerings—innovations that should give OpenAI and Microsoft pause. Google is signalling its determination to remain at the forefront of AI development.
The stock responded with a sharp rally. The $171 zone—the upper edge of a major bearish gap that has capped the price since early March—was finally tested. A decisive daily close above that level would complete a bullish reversal pattern whose measured move targets the next congestion band in the $182–185 area. Reinforcing the set-up, the 20- and 50-day moving averages are on the verge of a bullish crossover, a classic technical buy signal that would lend additional weight to the near-term upside scenario.
On the downside, $163 is the first support to watch.
Top Traders League
Resistences: $171 • $179.40 • $185.50 • $193
Supports: $163 • $154.30 • $145
Targets: (bullish) $180 • $185 • $192 • $200 (bearish) $155 • $145 • $130
Alphabet Trend Profile:
- Short term Range-bound.
- Medium term: Sideways-to-bullish.
- Long term: Bullish.
