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Asset Watch
Tuesday, December 12, 2023
However, the blue line shows how the 50-hour moving average acted as support throughout the November upswing, and that stands near $132. But with the MA poised to rise the longer Alphabet remains above $132, it will either hold as support and help facilitate a breakout, or it will falter and could lead to a retest of the November lows.
In a nutshell, the outlook remains bullish as long as Alphabet trades above its 50-hour MA, and its latest AI advancement could help fuel a run back to its all-time high.
Will the bulls win this technical battle, or do the bears still have more fight left?
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