Alphabet Inc. (NASDAQ: GOOG) Currently in an Uptrend Move
GOOG is currently in an uptrend, as it is above the 50-day EMA, the 100-day EMA, and the 200-day EMA. The 50-day EMA is also above the 100-day EMA and the 200-day EMA, indicating a strong bullish momentum. The stock recently bounced off the 50-day EMA, which acted as a support level, and broke above the previous resistance level of $1,500. The next resistance level is around $1,600, which is the all-time high reached in October 2020.
The stock may face some profit-taking or consolidation near this level, but if it breaks above it, it may continue its uptrend. The next support level is around $1,450, which is the previous resistance level and the 50-day EMA. If the stock breaks below this level, it may indicate a weakening of the bullish trend and a possible reversal. The next support level is around $1,350, which is the 100-day EMA and the previous support level. A break below this level may confirm a bearish trend change and a possible death cross.
The stock may face some profit-taking or consolidation near this level, but if it breaks above it, it may continue its uptrend. The next support level is around $1,450, which is the previous resistance level and the 50-day EMA. If the stock breaks below this level, it may indicate a weakening of the bullish trend and a possible reversal. The next support level is around $1,350, which is the 100-day EMA and the previous support level. A break below this level may confirm a bearish trend change and a possible death cross.
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