Google Stock Surpasses $250Alphabet’s stock has started the week with a strong bullish bias, posting a gain of more than 4% in the short term. Buying pressure has remained solid as the company surpassed $3 trillion in market capitalization for the first time and delivered strong performance in its cloud services in recent months. Both factors have reinforced investor confidence, suggesting that demand could continue to play a relevant role in the coming sessions.
Aggressive Trend
Although Alphabet had already been sustaining an uptrend for much of the year, since late June the movement has become more aggressive, allowing the price to break above the $250 mark. For now, there are no signs of a trend reversal or bearish corrections that would challenge the main structure, which remains clearly bullish. However, the recent acceleration in price action could open the door to technical pullbacks, typical in scenarios of excessive buying pressure.
Technical Indicators
RSI: The RSI currently sits well above the overbought zone (70), highlighting a market imbalance. The excess of buying momentum could lead to short-term corrections, necessary to restore balance.
TRIX: The TRIX line continues to climb above the neutral 0 level, confirming that the broader picture remains bullish. This reduces the likelihood that eventual pullbacks will result in a trend reversal, reinforcing the dominance of buying pressure.
Key Levels to Watch:
$260 – Psychological Resistance: A round number level and the next objective in the absence of historical references. A sustained breakout above this point could encourage the trend to maintain its aggressive short-term pace.
$226 – Nearby Support: The area of recent lows, serving as the first line of defense against potential short-term corrections.
$204 – Main Support: Level aligned with the Ichimoku cloud. A drop back to this area would put the current bullish structure at risk and could trigger stronger selling pressure on Alphabet’s stock.
Written by Julian Pineda, CFA – Market Analyst
