Asset Watch
Thursday, January 11, 2024
The stock faces resistance near its October and December 2023 highs, and the $141 to $143 range needs to clear to confirm a breakout. However, Alphabet’s uptrend continues to narrow as rising support collides with constant resistance. As a result, the Big Tech behemoth will have to decide soon whether the bulls or bears will win this short-term battle.
If a breakdown occurs, the stock could find support in the $127 to $128 range, as the area coincides with the June 2023 highs and the September and December 2023 lows.
So, should we expect a breakout en route to $170, or will a correction plague Alphabet first?