Google holds a favourable position in the AI competitionThe competition within the artificial intelligence industry continues. According to a report from Alphabet Inc., its proprietary product, the Gemini AI model, has demonstrated promising results compared to its competitors. It is reasonable to assume that increased competition will improve product quality, providing Google with every chance to capture a substantial share of this market.
So today, we suggest examining the Alphabet Inc. (NASDAQ: GOOGL) stock chart.
On the D1 timeframe, support formed at 120.21, with resistance at 139.36. A relatively wide channel has appeared on the chart, with a high probability of breaking its upper boundary. A significant support level is at 127.22.
On the H1 timeframe, a short-term target for the price increase can be set at 151.29, while in the medium term, it could hover around 165.
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