The EMA 200 runs through the $160 area. At the latest here, we expect another buyers' overhang, leading to a new attack on $170 and later the all-time high at $193.
Only a relapse below $159 would release downside potential to $147.
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Previous analysis (23.09.2024)
Alphabet Inc. (Google) – Are we seeing a new wave of momentum?
The Alphabet Inc. (Google) share price consolidated by almost 23% in July and August. For the past two weeks, we have seen the bulls back in the driving seat. The share price is up 17.9% year to date. What should happen next?
From a technical perspective, the Alphabet Inc. (Google) stock is in an interesting situation. Since the correction low at USD 148, the stock rose by 11% within 9 trading sessions. This can be seen as a new impulse to date. The main scenario now predicts a direct increase to USD 170.50 in order to gain momentum for a breakout towards the all-time high.
A drop below the EMA 200 at 159 USD would release slight downside potential to 147 USD.
It only becomes bearish below 147 to 146 USD.
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