Watch These Alphabet Price Levels as Stock Climbs to Five Month High | Global News Avenue

Holds shares in Google parent company Alphabet (Google) (Google) climbed to a five-month high on Tuesday, buoyed by optimism surrounding the tech giant’s recently unveiled “breakthrough” Quantum computing chip It’s called a willow tree. Investors will be keeping a close eye on where the stock goes next.

Alphabet said the chip could take minutes to complete calculations that would take a supercomputer a billion years, and it forms part of the company’s roadmap As much as computers CEO Sundar Pichai on drug discovery, fusion energy, battery design and more Xon Monday.

Although the stock faced pressure in the third quarter antitrust concernsThe stock has rebounded 27% since its lows in early September and is up more than 30% for the year as of Tuesday’s close.

Let’s analyze it below technical on the alphabet Weekly chart and points out important price levels worth watching.

Symmetrical Triangle Breakout

After peaking in early July, Alphabet shares symmetrical triangle That followed a breakout of the pattern’s upper trendline on Tuesday, signaling that the stock’s uptrend continues.

also, Relative Strength Index (RSI) Readings above 60 confirm bullish price momentum, but below overbought threshold, giving the stock price room to rise further.

Let’s apply technical analysis Provides clues as to how long-term sustained trends play out and identifies several important factors support level Watch during the pullback.

Bar chart analysis

To help predict where Alphabet stock will go next, investors can use the bar pattern tool, a technique that analyzes previous trends to help predict future direction moves.

When applying this tool to the Alphabet chart, we take the stock’s trend Moving from April 2023 to July this year and repositioning from recent breakout levels. This foreshadows longer-term benefit The target is around $317, which is about 70% higher than Tuesday’s closing price. We chose this previous trend because it started after a breakout of the previous trend. continuation mode On the chart, copy price action Similar to the stock’s current breakout.

Investors can also use bar chart tools to speculate on how long a stock’s ongoing trend may last. For example, the previous trend occurred over 65 weeks, meaning that if we relied purely on price history.

Important support levels worthy of attention

The first support level to watch is around $150. A pullback into this area could lead to investors looking for buying opportunities near the multi-year trendline, which connects several previous notable trendlines. peak Low in September 2024.

Selling below this key area could push it down to the $122 level, where Alphabet stock could gain ground at this point on the chart horizontal line Link similar trading prices between April 2021 and October last year to the chart.

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As of the date of this writing, the author did not own any of the securities mentioned.