GOOG Stock: Bullish Momentum Building

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### GOOG Stock: Bullish Momentum Building

📈 **Alphabet Inc. (GOOG) - Continuing the Upward Trend**

Since early November 2022, GOOG has been on a solid upward trajectory, establishing a bullish channel that suggests further potential for growth.

🔍 **Key Observations:**

1. **RSI Channel Formation:** The Relative Strength Index (RSI) is currently at 44.79, indicating that there is still room for upward movement within the bullish channel without entering overbought territory.

2. **MACD Indicator:** The MACD shows signs of a potential reversal, which could indicate a shift in momentum. Traders should watch for confirmation of this change, which may signal a strengthening bullish trend.

3. **Moving Averages:** GOOG is on the verge of breaking a significant technical level above the 200-period Moving Average. A successful breakout could allow the stock to target the 20-period and 50-period Moving Averages, which could act as additional support levels in the near term.

4. **ADX Indicator:** The Average Directional Index (ADX) is currently at 37.53, indicating a strong trend and momentum. This level suggests that the bullish trend has the potential to continue, providing a favourable environment for upward price movement.

💡 **Conclusion:**
With the RSI indicating the potential for further gains, the MACD showing signs of reversal, and the ADX confirming strong momentum, GOOG appears well-positioned for continued upward movement. Traders should monitor the price action closely, especially around the key moving averages, to make informed trading decisions.

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