Alphabet may rise to 201.40 - 205.00

Our pivot point stands at 181.3.

Our preference

The upside prevails as long as 181.3 is support.

Alternative scenario

The downside breakout of 181.3 would call for 175.6 and 172.1.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 180.008 and 174.4486). Finally, Alphabet has crossed above its upper daily Bollinger band (189.3).

Supports and resistances

208.4 **

205 *

201.4 **

197.9

190.6 (USD-last)

183.6

181.3 **

175.6 *

172.1 **

Number of asterisks represents the strength of support and resistance levels.